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Newcastle United reports increased losses
By Pete Hayman
Newcastle United Football Club (NUFC) has announced that its losses after player trading widened to £17.1m in the 12 months to 30 June 2010 - compared with £15.2m in 2008-09.
The Premier League club said its latest annual financial results reflected a period in which it was relegated to the npower Championship. Although operating losses fell from £37.7m to £33.5m, NUFC reported a 39 per cent drop in turnover and a 57 per cent decline in media revenue.
NUFC managing director Derek Llambias said: "It has been a significant achievement to keep our overall loss at a level similar to the year before despite the impact of relegation."
Newcastle United Football Club (NUFC) has announced that its losses after player trading widened to £17.1m in the 12 months to 30 June 2010 - compared with £15.2m in 2008-09.
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