The upcoming Newcastle accounts reveal a healthier financial picture, but the Spurs' "world records" are a warning to Ashley



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Newcastle United are one of two Premier League clubs that have yet to register their accounts for the 2017/18 season, but it is almost certain that they will report a profit for the period covering their return to the top.

With the increase in TV revenue thanks to return and a low spend on transfers, Newcastle is very likely to join 12 of the top clubs that posted profits when they unveiled their accounts, which should happen early next month.

But as much as Newcastle's financial situation is healthier than 12 months ago, there will still be plenty of questions about the state of play under Mike Ashley when the underlying numbers are revealed.

The last club to announce its finances is Tottenham, who posted a record world record profit of 112.9 million pounds to coincide with the move to a new stadium – and reading the details of their reports gives a serious reading of how Newcastle fell behind the clubs they were struggling with little more than a decade down.

In the 2011/12 season, Newcastle were placed ahead of the Champions League by Tottenham and the two clubs were not separated by a million miles in terms of financial strength.

Spurs recorded a turnover of £ 181 million the following year – 2012/13 – while Newcastle recorded a turnover of £ 130 million. Tottenham had the sixth largest turnover, while Newcastle ranked seventh – and although the gate, the TV and the commercial were far behind the Spurs, there was not much of it.

Six years later, the gap became a chasm, with Tottenham surpassing Newcastle in all major markers of financial strength. Its revenues of £ 380 million are equivalent to £ 178 million from Newcastle. In sum, the two clubs have had quite different financial and sports days in the last five years as the Spurs have become real opponents for the top four while Newcastle have become a Premier League yo-yo club.

Newcastle's next move was to re-establish themselves in the first division; Tottenham have challenged the European elite.

It is a salutary story for the United States hierarchy, which will face some huge decisions in the coming weeks, with Rafa Benitez demanding answers about the future aspirations of the club.

How TV money abroad will be distributed from the 2019/20 season

Premier League clubs will be guaranteed to receive the current £ 40.7 million per season, with the remainder depending on the league's final position. It is expected to be as follows by position for the 2019/20 * campaign:

  1. + £ 23.80m (£ 13.5m more than if the TV rights abroad were evenly distributed)
  2. + £ 22.61m (£ 11.86m more than if the TV rights abroad were still distributed evenly)
  3. + £ 21.42m (£ 11.12m more than if the TV rights abroad were evenly distributed)
  4. + 20.23m (£ 9.93m more than if the TV rights abroad were evenly distributed)
  5. + £ 19.04m (£ 8.74m more than if the TV rights abroad were evenly distributed)
  6. + £ 17.85m (£ 7.55m more than if the TV rights abroad were evenly distributed)
  7. + £ 16.66m (£ 6.36m more than if the TV rights abroad were still distributed evenly)
  8. + £ 15.47m (£ 5.17m more than if the TV rights abroad were evenly distributed)
  9. + £ 14.28m (£ 3.98m more than if the TV rights abroad were still distributed evenly)
  10. + £ 13.09m (£ 2.79m more than if the TV rights abroad were evenly distributed)
  11. + £ 11.90m (£ 1.6m more than if the broadcasting rights abroad were evenly distributed)
  12. + £ 10.71m (£ 0.41m more than if the TV rights abroad were still distributed evenly)
  13. + 9.52m (£ 0.78m less than if the TV rights abroad were still distributed evenly)
  14. + £ 8.33m (£ 1.97m less than if the TV rights abroad were still distributed evenly)
  15. + £ 7.14m (£ 3.16m less than if the TV rights abroad were still distributed evenly)
  16. + £ 5.95m (£ 9.11m less than if the TV rights abroad were evenly distributed)
  17. + £ 4.76m (£ 5.54m less than if the TV rights abroad were evenly distributed)
  18. + £ 3.57m (£ 9.11m less than if the TV rights abroad were evenly distributed)
  19. + £ 2.38m (£ 7.92m less than if the TV rights abroad were still distributed evenly)
  20. + £ 1.19m (£ 9.11m less than if the TV rights abroad were evenly distributed)

* Figures according to The Telegraph

The Spurs have undoubtedly spent more than Newcastle on transfer fees in the last five years, but their payload of £ 148 million is not much higher than that of Newcastle. In the 2016/7 season, United had a payroll of £ 112.2 million in the Championship while the Spurs finished in the top four with a total of £ 127 million.

Tottenham's last four years have made wise investments, world-class training and management, and the recruitment and retention of some of Europe's best football talent (think of Dele Alli, once a Newcastle target, and Christian Eriksen).

The trade and marketing deals they've traded have also outpaced United's, while switching to Tottenham's new stadium gives them a chance to shift to a different level in the next few years. His leadership – President Daniel Levy gets £ 3 million a year, while Lee Charnley's salary is £ 150,000 – is also in a financial sphere totally different from that of Newcastle.

Newcastle's accounts are due out in the coming weeks – last year they were not released until the end of May – and this will show a disturbing picture of where United is now. With several of the heavyweights now in a financial league totally different from Newcastle, they find themselves scrapping with the Southamptons, Watfords and Burnleys of the division looking for supremacy below the elite.

That is also why they desperately need to secure the future of Rafa Benitez. Good and smart management is a way of trying to bridge the growing gap in the first division.

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