Newcastle yesterday revealed accounts which showed they were close to breaking even. The operational loss for the year ending June 2011 showed losses of £3.9m, down from £33.5m the previous year. Wages accounted for 60 per cent of the turnover, which has risen to £88.4m.
"The club's financial results are extremely strong," said managing director Derek Llambias. "We can now count ourselves amongst very few clubs across the UK and Europe who are operating at close to break-even."
The club yesterday completed the signing of the French winger Romain Amalfitano from Reims on a three-year deal.