Member Article

Incoming NUFC managing director says club has never had such financial stability

The newly appointed managing director of Newcastle United, Lee Charnley, says the club has never been in such a stable and healthy financial position.

The former Football Secretary will be joined on the club’s Board of Directors by owner Mike Ashley and finance director John Irving.

On his appointment Mr Charnley spoke about making preparations for the summer transfer window and the need to spend the clubs funds in a “careful and considered way.”

He also noted the club’s lucrative Wonga deal and his desire to drive up commercial income - including plans for further music concerts at St James’ Park.

He said: “We will continue to operate in a financially responsible manner and live within our means. This Club is financially strong and there is money to spend if the deal is right and we are confident a player can add quality to the squad.

“That said, we will not pay over the odds or make knee-jerk decisions. Every player we sign represents a major investment and mistakes are costly which is why we will continue to be prudent in our transfer dealings. This is the reality of a well-run football club like ours.

“We can be proud that we already meet, and in fact exceed, the requirements of UEFA’s Financial Fair Play regulations and in our latest set of published accounts we recorded a profit for our third consecutive year.

“We will continue to manage our finances in this sustainable manner and will not accrue debt in order to achieve short-term gains.

“It is also important that we don’t over-promise and under-deliver for our supporters, players and staff. False expectations lead to disappointment and frustration, hence why we will keep our transfer business confidential and will not be drawn into commenting on the media speculation and rumour that exists in this digital world.

“As a board we will continue to make the final decisions on all player transfers. Clearly, however, the manager and his team have a very significant involvement in such decisions and will be instrumental in making recommendations in relation to the squad.”

This was posted in Bdaily's Members' News section by Tom Keighley .