On Tuesday Premier League side Newcastle Untied announced a healthy $16 million profit for the financial year ending June 2013. But don’t expect the good news to stop there, as since then Newcastle has also sold prized asset Yohan Cabaye to Paris Saint-Germain for $30 million in January, as the North east club seems to be making much-maligned owner Mike Ashley a tidy profit each year. In 2011-12 the club made a profit of just $2.4 million, but with that figure increasing significantly this year, it must be down to not spending money on new players, right? On the contrary Newcastle shelled out over $42 million on new players in 2012-13, as the likes of Mathieu Debuchy, Yoan Gouffran, Massadio Haïdara, Moussa Sissoko and Mapou Yanga-Mbiwa all signed in January 2013.
Newcastle United reveal huge profits, with $30 million for Cabaye still to come
Pro Soccer Talk | Feb 25