Newcastle United managing director Derek Llambias has revealed they're on the brink of breaking even.

Llambias has revealed the club are on course to break even during the current financial year.

In a mission statement published in the matchday programme for the Premier League match with Tottenham Hotspur, Llambias confirmed the Magpies are well on their way to achieving their aim of self-sufficiency.

He said: "In 2008-9, we reported an operating loss before player trading of £37.7m. In 2009-10, that loss was £35.5m.

"Once audited, our accounts for 2010-11 are expected to show an operating loss of just £4.7m and this year, we hope we will be close to breaking even.

"We are pleased that the club is working towards being able to operate within the boundaries of Uefa's financial fair play rules even during these challenging economic times."