Newcastle United reported a £73.4 million loss in their annual report, despite a 39% increase in income.
Newcastle United have “little room” for new signings in the January transfer season, according to football financial analyst Kieran Maguire.
Eddie Howe’s hopes of strengthening to his squad this month have been boosted by supporters. Newcastle has dropped to ninth place in the Premier League and will face an uphill battle to reclaim a top-four status come May.
Toon chiefs have until February 1 to bolster their ranks, so an infusion of new newcomers could be one way to getting the Magpies back on track. However, as the club announced their 2023-24 numbers, CEO Darren Eales downplayed claims of January investment.
“First and foremost, January is not the best time to trade,” Eales told NUFC TV. “Everything is better in the summer.” I believe it will be difficult to obtain value during the January window since they do not want to lose their finest players at such a critical moment.
“We’re also in an interesting position because we have a number of very good players who have been out injured but will return in the second half of the season.” We are also always cognizant of financial transparency. When it comes to player trade, we’ll make a choice based on what’s best for the club in the medium to long term and whether it makes sense, and that’s how we’ll approach it.”
According to the most recent numbers, while Newcastle boosted revenues by 39% to £250 million, they lost £73.4 million altogether. That reflects the Magpies’ transfer spending since the club was purchased by its new owners in October 2021.
Maguire, a football financial specialist, noticed how Newcastle has surpassed the majority of the Premier League but is restricted in terms of transfers until the summer. “Newcastle are still behind the ‘big six,’ but have surpassed the rest of the Premier League clubs,” he wrote on social media. FFP appears to be in good shape, but there is little room for signings.”
