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.”
Lopetegui agrees to succeed Moyes as West Ham manager – reports
Julen Lopetegui has reportedly agreed to succeed David Moyes as West Ham manager, with the Scot set to leave the London Stadium when his contract expires at the end of the season.
Despite overseeing three successive European campaigns and delivering the Europa Conference League trophy last season, Moyes has continued to face fierce pressure from sections of the West Ham fanbase.
He claimed to have been offered a new contract earlier this season but said he would hold off on making a final decision regarding his future until the end of the campaign.
West Ham sit ninth in the Premier League table after being thrashed 5-0 by Chelsea on Sunday, with their hopes of European qualification all but over following a drop-off since the turn of the year.
Several coaches have been suggested as contenders to replace Moyes, with Sporting CP's Ruben Amorim apologising to his current club after holding talks with the Hammers hierarchy in London last month.
On Monday, however, widespread reports claimed West Ham had reached an agreement in principle with Lopetegui, who left his last job with Wolves on the eve of the Premier League season.
Lopetegui saved Wolves from relegation last term but left the club just three days before the start of 2023-24, having grown frustrated with a lack of transfer activity at Molineux.
He previously led Sevilla to three straight fourth-placed finishes in LaLiga between 2019 and 2022, also overseeing their 3-2 victory over Inter in the 2019-20 Europa League final.
Lopetegui – who has also managed Porto, Spain and Real Madrid – had also been linked with Bayern Munich and Milan, though fan protests derailed his chances of taking charge of the Rossoneri.
Emery has no complaints after tired Aston Villa lose late on at Brighton
Unai Emery accepts Aston Villa can have no complaints over their 1-0 loss to Brighton and Hove Albion in the Premier League.
The Villans fell to a narrow defeat at the Amex Stadium on Sunday as Joao Pedro converted late on after his initial penalty attempt was saved.
Villa looked sluggish throughout yet were just minutes away from claiming a point that would have further boosted their top-four prospects.
John McGinn also had a goal ruled out for a marginal offside, but Emery admits his side were not deserving of a point on their travels.
"We competed but it was not enough," he told BBC Sport. "We weren't strong enough in 90 minutes to deserve anything more than we achieved.
"Now the most important thing is to rest, to rest today, rest tomorrow, after the match.
"We are having an amazing season, brilliant, but of course we are at the last chance and we have to try and give everything."
Villa remain seven points clear of fifth-place Tottenham, albeit having played a game more, after Spurs' 4-2 loss at Liverpool.
Before focus can turn to the Villans' home match with Liverpool in a week's time, they first travel to Olympiacos for their Europa Conference League semi-final second leg.
Emery's men have a major task on their hands if they are to reach the final as they trail 4-2 from last week's first leg at Villa Park.
"We want to put in a good effort on Thursday [against Olympiakos] and on Monday against Liverpool. Now is time to rest," Emery added.
"We had a lot of players injured and they are recovering. The most important thing is to get players back for balance and to be competitive."
Victory for Brighton was much needed after going six without a win in the Premier League, failing to score in four of those matches.
While Roberto De Zerbi was pleased to get back to winning ways, he accepts Brighton were given a helping hand by Villa's quick turnaround in games.
"To be honest, Villa were not themselves, maybe a little tired," he said. "They are playing in the Europa Conference League and they have a lot of injuries.
"I am proud because we played a great game against one of the best teams in the Premier League. Playing against Unai Emery's teams is very tough.
"We played well, we deserved to win and we could have scored more goals. I think Robin Olsen was the best player for Villa."
Declan Rice loss to blame for heavy West Ham defeats - David Moyes
Declan Rice's absence is to blame for a number of heavy West Ham defeats this season, according to manager David Moyes.
West Ham sold captain and influential midfielder Rice to Arsenal last July for a club-record fee rising to £105million with add-ons.
The Hammers have seen results nosedive since the turn of the year, most recently crashing to a 5-0 defeat away at Chelsea on Sunday.
That was the sixth time West Ham have conceded four or more goals away from home this season, and their fifth loss in six away games overall.
Asked at his post-match press conference exactly why his side are on the end of heavy losses so frequently of late, Moyes said: "Declan Rice."
The Scotsman, due to be out of contract next month, added: "You get the best midfield player in the country, protecting, making sure the moments and times you limit maybe 50 per cent of the attacks.
"It makes you a much better defensive team when you get that. We've lacked protection in front of the back four; we've lacked good enough defending; we've not been good enough on those things in many games.
"You've got to be careful. You're talking about a team sitting in a really, really strong position. We've had a couple of bad days away from home, which we have to try and eradicate and make better.
"I'm trying to put a bit of mental toughness when we need it. The teams I normally prepare would normally have it. You could always lose the way you lose."
West Ham have won just one of their past nine Premier League games, seeing them slip down to ninth place and now out of the top-six running.
United have also failed to keep a clean sheet in any of their past 16 in the competition - only the second time they have done so in a single Premier League season.
The poor run of form, which also includes elimination from the Europa League at the hands of a strong Bayer Leverkusen side, has raised doubts over Moyes' future at London Stadium.
Amid suggestions that former Real Madrid and Spain boss Julen Lopetegui has already been lined up, Moyes reiterated he will wait until after the season to hold talks over his future.
"I'm going to talk to the board at the end of the season, so we’ll do that then," he said.
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