Newcastle United’s new owners have reported a reduced loss after tax of £12.2m and have pumped in £167.9m since their arrival, the club’s latest financial statement has revealed.
Figures for the 11 months to June 30th 2021, during which Mike Ashley was still at the helm, shows overall turnover fell by £12.4m to £140.2m with match income slashed by 99 per cent to just £200,000 due to the absence of crowds at St James’ Park under Covid-19 restrictions.
Media revenue increased by £13.2m to £119.3m while the club’s wages to turnover ratio fell from 79.4 per cent to 76.2 per cent, although that was in part due to the fact that the previous accounting period covered 13 months.
The loss after tax represents a drop of £10.3m on the previous period.
Amanda Staveley’s 80 per cent Saudi-backed consortium completed its takeover in October last year and has since injected almost £168 million in equity, partly in settlement of an outstanding interest-free loan owed to Ashley’s St James Holdings Limited – the figures revealed the former owner was due £106.9m and also to fund signings in an ultimately successful bid to stave off relegation.