Chief executive Darren Eales has admitted even Newcastle could not resist a “£1billion” bid for one of their biggest names after reporting a loss of £73.4million.
The Magpies, who are 80 per cent owned by Saudi Arabia’s Public Investment Fund, are considered one of the world’s richest football clubs, but like all their Premier League counterparts they have to operate within profit and sustainability rules.
Sporting director Dan Ashworth has insisted in the past that spending £200m a year on players – Amanda Staveley’s consortium has invested in excess of £400m in the squad since completing its takeover in October 2021 – is unsustainable, prompting speculation that the likes of Sven Botman, Bruno Guimaraes or Alexander Isak could be sold to fund future recruitment.
Asked about that possibility as he discussed the club’s financial figures for the year ending June 30, 2023, Eales said: “It’s difficult to hypothesise, but if we’re offered £1billion for one of those players, then no one could argue against that making sense.
“Any decision we make will always be against the backdrop of the medium to long-term benefit for the club. It’s difficult to say specifically on certain players, but I can say that, if we’re going to get to where we want to get to, at times it is necessary to trade your players.”
Newcastle’s rise since Staveley and her partners – the Ripon-based financier is understood to have reduced her 10 per cent personal stake in the club, but she and the Reuben Brothers still control the remaining 20 per cent of the shares between them – took charge at St James’ Park has been spectacular.
They inherited a side sitting in 19th place in the table and having appointed Eddie Howe as their new head coach, saw him guide them to safety in comfort by the end of the 2021-22 season, and then a fourth-placed finish and Champions League qualification 12 months later with a trip to the Carabao Cup final along the way.
The latest figures, which show a loss after tax of £73.4m, but also how the club have grown off the pitch – turnover increased by £70.3m (39 per cent) from £180m to £250.3m, while an operating loss of £26.4m was transformed into a profit of £20.1m.
However, increased player amortisation costs – the way transfer fees are spread across the length of contracts – rose to £89.3m, contributing to the overall deficit, but one which falls within permitted limits.
The documents also reveal the club have loaned Staveley more than £1.2m “in respect of certain legal fees” which are unspecified.
The results do not include projected revenue of at least £37m from the club’s involvement in this season’s Champions League, nor income from new sponsorship deals with Sela and Adidas, and efforts to increase commercial revenue are ongoing with an expansion of the stadium one possibility.
Eales said: “To put it into perspective, we want to be a top-six sustainable club and Tottenham’s latest accounts available, (total revenue) was £440m. We are at £250m, so there is a big step even to the lower end of the top six.
“We have also seen that Manchester City are £710m in revenue in their latest accounts. There is a long way to go in growing those revenues.”
Eales, who signalled the club’s intention to retain the services of Ashworth amid reported interest from Manchester United, indicated that significant investment during the “difficult” January transfer window is unlikely, but insisted there were no plans to loan players from the Saudi Arabian clubs in which PIF holds controlling interests.
He also confirmed Howe’s centrality to the project amid speculation over his future during a testing series of results as 2023 drew to a close.
Eales said: “There’s no doubt we have had that real progression on the pitch and Eddie is a huge, integral part of that. We hope he is going to be with us for many years to come.”
Guardiola: Foden can still get better after Player of the Year award
Pep Guardiola thinks Phil Foden can still get better, after the 23-year-old winning the Premier League’s Player of the Year.
Foden has been a pivotal part of City’s title challenge this season, scoring 17 goals and providing eight assists in the top-flight in 2023-24.
It is the youngster’s most prolific scoring season for City, while only six players have bettered Foden’s goal haul in the Premier League.
When asked about the strides that Foden has made this season, leading him to the award, Guardiola praised the England international’s influence on the squad.
"Obviously, he makes a step forward as a football player. In terms of minutes or time, but he's decisive in winning games," Guardiola said.
"Maybe before it was a glimpse of action, but now it's consistent. That is the truth, but they still have a margin. Sometimes his game is overexcited, it's over, and you have to be more calm because his excitement he has for himself, but we'll have question of time, but this season has been really, really important. Really, really important."
Foden has bettered his tally of 11 goals from last season and leads City’s squad for chances created this campaign with 68.
"He's moving forward, but I had the feeling he can be better, and I think he can do it because I've said many times, that he loves football," Guardiola added.
"He enjoys being on the pitch, and I think the feeling doesn't like when you have the day off.
"He likes to be in the training session doing less or more and I had the feeling it still can be better."
Manchester City can win a fourth-consecutive Premier League title on Sunday against West Ham, if they can match or better Arsenal's result.
Objectives met: Shabazz pleased with Golden Jaguars' showing despite losses to T&T
Despite losing both friendly encounters to Trinidad and Tobago, Guyana senior men’s Head coach Jamaal Shabazz says their objectives were met, as the players that made the trip to the twin island republic gained invaluable experience that will assist to shape their future in the sport.
The Golden Jaguars lost 1-2 and 0-2 to Angus Eve’s Soca Warriors at the Crawford Stadium, in Port of Spain, but for Shabazz, the fixtures served their purpose of gauging the readiness of players, who competed in recently concluded Round One of the KFC Elite League Season, especially with the Concacaf World Cup qualifiers scheduled to get under way next month.
“We did not win, but a lot of questions were answered as to who is ready to move into our full international squad. We achieved our other objectives. We got higher level match practice for the likes of Daniel Wilson, Kelsey Benjamin, Curtez Kellman, Colin Nelson and Ryan Hackett, all of whom travel with our first team. We gave valuable exposure to players like Marcus Tudor, Simeon Moore, Chris Macey and Stephen McDonald, just to name a few,” Shabazz shared.
“It is clear that player for player we were able to match our opponents. Some boys gave a good account of themselves, and some were a bit nervous. Most importantly, the lads would have learnt a few lessons for their future, like the margin for error at international level is small and the need for more composure in front of goal,” he added.
Aside from those he mentioned, Shabazz also had three overseas-based players from Canada, France and the United States, in his 24-member squad, and by all indications, a few more might be assessed, as the tactician prepares to select his final squad for the qualifiers.
Guyana will contest Group D of the qualifiers, alongside Panama, Montserrat, Belize and Nicaragua. They are set to open against Panama in Panama City on June 6, followed by the Belize encounter on June 11 in Barbados.
Shabazz expressed gratitude for the continued support in gifting local-based players the opportunity to showcase their potential, and challenge for spots in the final squad.
“I must thank the Government of Guyana and the Guyana Football Federation for enabling this exposure for the home-based players. At least twice a year we should get these types of matches for home-based players to develop,” Shabazz noted.
Guardiola: Other clubs have a chance to win the title against Man City
Pep Guardiola believes that other clubs do have the chance to win the Premier League while he is the Manchester City manager.
Guardiola has led the Citizens to five top-flight titles in his seven seasons in charge, including each of the last three in a row.
They have the opportunity to win an unprecedented fourth consecutive Premier League campaign – they must match or better Arsenal’s result on the final day against West Ham to finish top of the table.
Asked what he thought about the narrative that suggested other teams struggle to win the title while he is at City, Guardiola immediately brushed the idea aside.
He said: "It is wrong, look at the margin. If every season I won by 20 points, then I would say yes I am a genius, I'm so good, but it's not.
"The Premier League we won against Liverpool they could have won. Arsenal can win, we can win. It's like that.
"My judgement about the team, about how we behave, nothing changed, nothing changed. My opinion of Liverpool this year has not changed, whether they have won or not won.
"I know here there is just a prize for the winners and the winners smell good and everyone won a copy and everything, but it's not.
"It's not the case because behind of arriving here in the last press conference of the season before the last game of the Premier League there are a lot of work, like Liverpool was and Arsenal have been this season."
Guardiola was also quick to highlight the hard work of everybody at the club during their title challenge.
"It's not because of what we have done in the past gives you this season, it's completely the opposite," he continued.
"There are a lot of work for all departments. How many my backroom staff, the medical department, the physio department, how they care all the seasons, every single few, few injuries.
"Injuries are always there, but the balance is ridiculous, how good it is, and that's because there is a lot of work, they care about the players and the people, you know, every single day, hours and hours being above the players, you have to do this, you have to do this, you have to do this to be fit. So otherwise, we cannot be where we are."
The City manager was also asked about his future at the club, and whether he would be continuing past the end of the season.
"Yeah, I have a contract. I want to be here next season, yes," he added.
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