Newcastle United profits fall, but turnover increases
A fifth-place finish in the Premier League helped Newcastle achieve an operating profit of £7.5m last season.
While they re-entered the list of the world's top 20 clubs by turnover - it increased by 5.4% to £93.3m last year - Newcastle's profits fell from £13.3m.
Spending on wages rose by 20% to £64.1m with the arrival of signings including Yohan Cabaye, Sylvain Marveaux, Davide Santon, Demba Ba and Papiss Cisse.
That puts the club's wages-to-turnover ratio at 68.7%, an annual rise of 8.1%.
Commercial revenues at St James' Park fell by 12.7%, though the latest figures do not include income from a new sponsorship deal with loan company Wonga.
But last season's strong performance on the field saw television income rise by 14.6%, and those revenues are set to increase further next year courtesy of improved broadcast rights agreements.
Average attendances at St James' Park rose to 49,936 - an increase of 2,190 - while ticket revenue fell by 7% after the club froze the price of season tickets.
Newcastle said they were: "Making significant strides towards meeting and exceeding Uefa's Financial Fair Play regulations".
The rules are broadly designed to make clubs - from the 2014-15 season - pay their bills and only spend what they earn.