Newcastle reveal a loss of £6.9m

[kennethlindheim]

Newcastle have reported an operating loss of £6.9million for the six months to December 31.

The latest figures released on Friday show the Magpies made an operating profit of £3.5million - up £800,000 on the six months to January 31, 2006 - before player trading and amortisation.

However, when the club's transfer dealings are taken in account, and in particular, the sale of £8million signing Jean-Alain Boumsong to Juventus for an initial 4.8million euros, that translates into a loss of £6.9million, up £3.8million on the January 2006 figure.

The interim results also reveal the club has received £3.3million from their insurers as compensation for Michael Owen's injury on World Cup duty with England as they pursue a claim for further payments from FIFA and the Football Association.

I don't like news like this.

[Trim]

Doesn't sound good.

[kennethlindheim]

I think wages are the biggest drain on the finances. It needs to be sorted out.