Newcastle United released their accounts yesterday.
Newcastle United fans appear to be worried after reading Lee Charnley’s statement about their financial situation following relegation.
Newcastle released their accounts for the year ending 30th June yesterday, and Charnley put out a warning with them.
The managing director said to Newcastle’s official website: “The financial impact of relegation is difficult to overstate and this will become evident in our next set of financial results for the year ending June 2017.
“The biggest impact by far is the dramatic reduction in centrally distributed income that comes with dropping down a division; the reality being our income in this area is forecast to fall by over £30m compared to 2015-16.”
Newcastle fans fear that Charnley is already hinting that they won’t invest in the summer transfer window, even if they achieve promotion.
If Newcastle did not spend it would surely be disastrous for their survival chances, if they were promoted, and their hopes of keeping Rafael Benitez.
Benitez was frustrated with Newcastle’s failure to sign players in January, and is keen to add further quality in the summer.
Newcastle look set to return to the Premier League next season, with the North East side currently leading the way in the Championship table.
The Magpies are next in action at the weekend, when they take on Sheffield Wednesday.
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