Newcastle record losses of £6.3m
Newcastle have announced a loss of £6.3m for the six months up to 31 January 2006, compared to a profit of £9.7m over the same period last year.
The losses are mainly attributed to a fall in overall revenue, caused by six fewer fixtures in all competitions.
Profit before player trading was at £2.7m - down from £8.5m during the same period 12 months ago.
Chairman Freddy Shepherd admitted that the level of investment has not been reflected on the pitch. But he has been pleased with the progress made under acting manager Glenn Roeder following a poor start to the season under Graeme Souness, who was sacked in February.
Shepherd said: "The current season has been disappointing, with performances on the pitch falling well below the levels we expected. "Since his appointment, Glenn Roeder, capably supported by Alan Shearer, has overseen a significant improvement in team performances. "We want this positive trend to continue while our search for the best possible team manager takes its course."
Nufcmismanagement view:
Blame Souness all you want Freddy, you appointed one of the very few managers who were below Newcastle in the league when you sacked Sir Bobby, you were one of the very few people who thought that Graeme Souness was a good enough manager to come to and manage the club.
Basically, the record loss it due to your inability to appoint the right man for the job.
I would love to know if people are worried about coming to manage this club because they would have to work for and with you.
On a side note, you also allowed Souness to spend almost £50 million on players, you allowed a manager who thought Peter Beardsley wasn’t good enough to play for Liverpool, years before he returned to star for Newcastle, you allowed the man who played Ali Dia at Southampton because somebody rang Mr Souness to tell him that Dia was the cousin of George Weah.
You allowed Souness to spend around £8 million on Boumsong, a player who had joined Ranger a few months earlier for nothing, he joined them on a free transfer.
The Rangers chairman later thanked Souness for helping out Rangers by going back to the club and buying players. This thank you came in the Glasgow local press, maybe you should try to find and read the article.
The Rangers chairman is the same person who socialises with the same Mr Souness who brought Boumsong to the club, does anything in this worry you?