Newcastle managing director Lee Charnley has attempted to explain away the club’s lack of recent spending in an interview with Off the Pitch.
Sustained underinvestment at St James’ Park has seen the club battling at the foot of the Premier League table, with outstanding manager Rafa Benitez forced to work on a shoestring to ensure survival.
But Charnley has tried to explain it to the fans, saying: “It’s not that we’re sat on this big pot of cash. Money comes in, money goes out, what is left is available to spend.
“The money coming in from the television deal is spread over the course of 12 months. It doesn’t all land at once. Where does it go? Wages, of the players, of staff, on transfers and on the running costs of the club.”
Somewhat predictably, Newcastle fans aren’t buying it. They’re rightly asking why every other Premier League club is able to use their money from television to improve the squad, while Newcastle are scratching around every year.
Essentially what Charnley is describing is cash flow – but that doesn’t mean that the money isn’t there to spend – and the fans can see right through it.
They are livid on Twitter about an interview that they feel is an attempt to take them for fools and explain away sustained underachievement through a lack of ambition…
Rubbish. Comes a point where tranches of fees eg Sissoko Mitrovic Wijnaldum etc add up to hefty sum each season. If balanced with outgoings his excuses run dry. Other clubs manage. Why not #nufc ? – MA took out 30m plus this year & is why we’re only PL club yet to file accounts
— acpatto (@AnthP68) April 11, 2019
Conveniently leaves out the reason for this ie we stupidly pay fees up front and deplete our cash flow while everyother club manages it correctly…….
— D (@upthehoop) April 11, 2019
Spin spin spin… every other club can do it … but we can’t etc. Get the excuses out now that we are skint as usual. Charnley,Ashley,Bishop and Barnes are absolute vermin
— Kev Douglas (@dugdastardly) April 11, 2019
Calculate a player’s wages over a year but only ‘drip fed’ TV money monthly.
— Jamie Fender (@Jamie_NUFC) April 11, 2019
So, it’s still a significant amount of money that has largely not been spent on strengthening the team. No getting away from that fact Penfold!!
— neilB (@neilTheMagpie) April 11, 2019
So they have to budget their income, like every business and household in the UK! Trying to excuse their lack of ambition with this nonsense is just embarrassing.
— Dan McAlinden (@dannymc21) April 11, 2019
The lack of understanding is not on this point at all where nufc is concerned. It’s far more to do with how we don’t even compete with the average premier league teams who all work to the same payment structure. Complete smoke and mirrors ahead of transfer window opening again
— Matt Lynch (@tweetmlynch) April 11, 2019
— Janet Purdy (@PurdyJanet777) April 11, 2019
Borrow against earnings that then KNOW are coming into the bank. We have refused to borrow ahead 🤷♂️
— Kev Lawson #IfRafaGoesWeGo (@Edit_Kev) April 11, 2019
Surely what he is describing is cash flow, and whilst that may impact cash available at a point in time, the basic incoming and outgoings of the club mean we could spend more.
— Gary Burn (@GaryBurn) April 11, 2019
The arrogance of this lot knows no bounds.
— Raj Bithal (@Biffarinho) April 11, 2019