Newcastle United owners will continue to speculate to accumulate as the club looks to make progress on the field and from a financial point of view.
The club's latest set of financial figures showed a loss of £70.7million but this is merely down to the ambition of the Saudi-backed regime after they made a significant squad overhaul in the last two transfer windows. And that seems to be the message emerging from the corridors of powers again as the club move forward into an exciting new era.
In a statement in the club's financial figures for 2021/22, the club owners stated: "Our long-term objective remains unchanged: to improve the sporting performances of the club, with a view to consequently improving the financial performance of the Group."
READ MORE: Everything Eddie Howe said at his press conference
Fans can see the efforts Newcastle have gone to in order to improve the squad and club chiefs point to the January haul of signings in 2022. United state: "The Club invested heavily during the January 2022 transfer window, bringing in Kieran Trippier, Dan Burn, Bruno Guimaraes, Chris Wood and (on loan) Matt Targett."
"Player signings increased the wage bill considerably, increasing our staff costs to turnover ratio for the year ended 30 June 2022 to 94.6% (2021: 76.2%). After the year end the Group contracted for the purchase and sale of a number of player registrations. "The net cost of these transfers, excluding any contingent fees was £170m (2021: £112m)."
A further pledge for a prosperous future
Newcastle's new owners have made a superb start to life in the boardroom. After guiding the club to 11th last season from what looked like a doomed position, Eddie Howe and the backroom team have now guided the Magpies to the business end of the table - thanks to backing from the powers that be.
But the search for greatness does not end there. The director's report reads: "Following the change in ownership, a review of all aspects of the footballing and business operations continues, with a view to outlining a new long-term vision and strategy for the club."
Lee Charnley resigned on the day of the takeover
The former managing director's departure was not announced until November 2021 when Charnley was thanked by Amanda Staveley and he wished the club all the best moving forward. The latest set of accounts show that Charnley officially resigned on October 7 the day the takeover went through, and as expected, he never intended to stay on, unlike other prominent figures such as chief scout Steve Nickson or first-team coach Graeme Jones.
Charnley stayed on during a handover period and even watched the first game of the new takeover from the Milburn Stand when the club lost 3-2. In fact, Charnley's time at St James' Park stretches further back than the Mike Ashley era with the former board member originally working under Freddy Shepherd.
READ NEXT
- Newcastle United fans to get 'front row seat' as details of Amazon Prime series officially confirmed
- Inside the bonkers summer when Newcastle United became 'Dad's Army'
- Newcastle United hit headlines in Italy with £88million 'offer' for Victor Osimhen
- Newcastle hoping for double boost fitness boost with Almiron and Gordon
