Newcastle could not resist £1bn bid for big name

Chief executive Darren Eales has admitted even Newcastle could not resist a “£1 billion” bid for one of their biggest names after reporting a loss of £73.4 million.

The Magpies, who are 80 per cent owned by Saudi Arabia’s Public Investment Fund, are considered one of the world’s richest football clubs, but like all Premier League teams they have to operate within profit and sustainability rules.

Sporting director Dan Ashworth has insisted in the past that spending £200 ma year on players – Amanda Staveley’s consortium has invested in excess of £400 min the squad since completing its takeover in October 2021 – is unsustainable, prompting speculation that the likes of Sven Botman, Bruno Guimaraes or Alexander Isak could be sold to fund future recruitment.

Asked about that possibility as he discussed the club’s financial figures for the year ending June 30, 2023, Eales said: “It’s difficult to hypothesise, but if we’re offered £1billion for one of those players, then no one could argue against that making sense. It’s difficult to say specifically on certain players, but I can say that, if we’re going to get to where we want to get to, at times it is necessary to trade your players.”

The latest figures show a loss after tax of£73.4m but also how the club have grown off the pitch – turnover increased by £70.3m (39 per cent) from £180m to £250.3m, while an operating loss of£26.4mw as transformed into apr of itof£20.1m. however, increased player amortisation costs – the way transfer fees are spread across the length of contracts – rose to £89.3m, contributing to the overall deficit, but one which falls within permitted limits.