By Mark McSherry
Newcastle United has filed its financial results for the 2021-22 financial year, showing a loss after tax of £70.7 million for the 12 months ending June 30, 2022, “driven mostly by the investment in the playing squad during the January 2022 transfer window.”
The numbers show a sharp recovery in revenues to £180 million from £140.2 million the previous year, as crowds returned to St. James’ Park after the end of restrictions imposed during the pandemic.
Commercial and media rights revenues also increased as the club’s league standing improved for the season.
A Saudi Arabia-controlled consortium bought Newcastle United in October 2021.
“These are the first figures reflecting the club’s financial performance since it was acquired by an ownership group comprised of PIF, PCP Capital Partners and RB Sports and Media in October 2021 and the results therefore include nine months under the new shareholders’ ownership,” said the club.
Newcastle United CEO Darren Eales said: “This is an ambitious, long-term project.
“The financial success of the club goes hand in hand with our performances on the pitch. We have come a long way in the past few months.
“There’s still a long way to go but we are looking to the future with confidence.”