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Newcastle board still concerned with finances

Newcastle United are still trying to balance the books.

The Journal says United will only be able to flex their financial muscle again after one season back in the Premier League as Mike Ashley still tries to stabilise the club's accounts.

Although United did spend around £13m in the transfer market if wages and loan fees are taking into consideration, the estimated £30m extra income generated by promotion back to the Premier League has been used to cover running costs and to clear the club's overdraft with the bank.

And, while the financial situation may have improved with the return of Premier League football, the club remains in a fragile position and is heavily reliant on the backing of their controversial owner.

 Click here for the best Newcastle United coverage on the 'net. All your Toon news and gossip in one spot.

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