Newcastle United Forum - The Club Financial Year
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The Club Financial Year
28 June 2015 20:11 Post ID: #460382
Reserve Team
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Read someone somewhere trying to explain the club's lack of activity down to the fiscal year the club runs at.

Is it from 1st July?

But basically the reason he mentions is that if the club waits it makes the accounts look better for the previous year.

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28 June 2015 20:44 Post ID: #460383 - in reply to #460382
First Team Regular
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Most players contracts run until the 30th June so even if you sign them on a pre-contract the transfer fee won't be payable until the 1st July. People are just trying to make excuses for our owner and MD who are both incompetent wankers.
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28 June 2015 21:41 Post ID: #460384 - in reply to #460382
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Aye it's ok come the 1st July we will be out to spend our transfer kitty, knowing fatty it will amount to a quarter of midget gems and a packet of hobnobs.
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28 June 2015 22:37 Post ID: #460385 - in reply to #460382
I said weeks ago that if anything was spent, it wouldn't be until after June 30th like. I don't know why or what real benefit we get apart from contracts being less to buy out or some may have expired, although it does give an extra 12 months to work out how to hide any dodgyness in the accounts.

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28 June 2015 22:58 Post ID: #460386 - in reply to #460382
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I find it interesting that the players the media were saying were nailed on to join us, players like Austin etc.. who have other clubs interested, haven't gone anywhere yet.

Surely if West Ham wanted him that badly they would have made a bid. They've already spent a decent amount so they obviously have money.

If the club want to show a healthy balance sheet they might have to wait until the new fiscal year (even if it is only a few days away)

Match day revenue will be down.. season ticket sales are also way down.

So essentially at end of season perhaps they took a decision to freeze everything. No players sold, none bought. Essentially giving a blank canvas for the accounts for the following year.

If we sign a few players, season ticket sales will sky rocket. Then any players sold will most likely balance what's been spent to whatever was in the budget originally.

Also means Mike definitely isn't going anywhere.
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