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£12m loss for Geordies

Newcastle United Jackie Milburn, Malcolm MacDonald and Alan Shearer have all worn the No9 shirt for Newcastle United. Tell us who'll be the next legend here.

£12m loss for Geordies

Newcastle United

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28th October 2006, 05:26 AM

Beefy

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£12m loss for Geordies

Newcastle United slid to a £12m loss last year after heavy investment in players and a fall in revenues due to its failure to qualify for Europe.

The result is a reversal in financial fortune for the Premiership club which made a £620,000 profit the year before.

Revenues fell by nearly £4m to £83m as an absence of European football reduced match day ticket sales.

Expensive new signings such as England striker Michael Owen, bought from Real Madrid, also pushed up costs.

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