Managing director Derek Llambias optimistic about Newcastle's financial future

 

Newcastle managing director Derek Llambias is confident the events of the past fortnight have helped to secure the long-term future of the club.

During that period, owner Mike Ashley managed to tie up manager Alan Pardew and his coaching staff on eight-year contracts and secure a sponsorship deal with digital finance company wonga.com, part of which will see the name of the stadium revert to St James' Park after a controversial spell as, officially at least, the Sports Direct Arena.

There was disquiet in some quarters yesterday at the club's association with the Wonga brand, but as the dust settled on another interesting day on Tyneside, Llambias was wearing a satisfied smile.

He told the Journal: "It's been a big fortnight - a very big fortnight. For me, it's all about stability.

"To be able to get the coaching staff and the manager on side for eight-year deals, and then complete our sponsorship deal with Wonga, plus the stadium naming rights as part of that - it's a good two weeks, it's a very good two weeks for the club.

"It's all about the season for us now. It's about getting the injuries cleared up - but that's Alan's job. Thank God I don't have to get too involved in that."

Ashley has spent much of the time since he bought the club in May 2007 fighting a head-on battle with fans who have railed at many of his decisions, few as unpopular as the one to change the name of the stadium to include that of his own company.

Tyneside heroes Kevin Keegan and Alan Shearer came and went and in the eyes of many onlooker, were treated shabbily during a disastrous period for the Magpies which included relegation from the Barclays Premier League, and unlikely saviour Chris Hughton was later summarily dispatched amid fears he had taken Newcastle as far as he could.

However, promotion and last season's fifth-placed finish, which secured European football for the first time since Ashley's arrival, along with the implementation of a financial model which has proved hugely successful, have helped to ease a tense relationship.

Nevertheless, there are those who will never forget some of the less popular decisions.

Llambias admitted: "We started off poorly. I came in after the first year, I picked up from there and it's been a difficult, difficult period.

"We have been plugging away, slowly. You don't understand what we have done - we have done a good job. We have been realistic about what this club can do and what it can do in the future.

"Financially we are stable and we will get stronger and stronger. You have to understand, we have got an owner who's not used to failure. What we have got now is a very good format moving forward."

PA

Have you tried new the Independent Digital Edition apps?
Caption competition
Caption competition
Latest stories from i100
Have you tried new the Independent Digital Edition apps?

Bleacher Report

Daily Quiz
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

Day In a Page

Homeless Veterans campaign: Donations hit record-breaking £1m target after £300,000 gift from Lloyds Bank

Homeless Veterans campaign

Donations hit record-breaking £1m target after huge gift from Lloyds Bank
Flight MH370 a year on: Lost without a trace – but the search goes on

Lost without a trace

But, a year on, the search continues for Flight MH370
Germany's spymasters left red-faced after thieves break into brand new secret service HQ and steal taps

Germany's spy HQ springs a leak

Thieves break into new €1.5bn complex... to steal taps
International Women's Day 2015: Celebrating the whirlwind wit of Simone de Beauvoir

Whirlwind wit of Simone de Beauvoir

Simone de Beauvoir's seminal feminist polemic, 'The Second Sex', has been published in short-form for International Women's Day
Mark Zuckerberg’s hiring policy might suit him – but it wouldn’t work for me

Mark Zuckerberg’s hiring policy might suit him – but it wouldn’t work for me

Why would I want to employ someone I’d be happy to have as my boss, asks Simon Kelner
Confessions of a planespotter: With three Britons under arrest in the UAE, the perils have never been more apparent

Confessions of a planespotter

With three Britons under arrest in the UAE, the perils have never been more apparent. Sam Masters explains the appeal
Russia's gulag museum 'makes no mention' of Stalin's atrocities

Russia's gulag museum

Ministry of Culture-run site 'makes no mention' of Stalin's atrocities
The big fresh food con: Alarming truth behind the chocolate muffin that won't decay

The big fresh food con

Joanna Blythman reveals the alarming truth behind the chocolate muffin that won't decay
Virginia Ironside was my landlady: What is it like to live with an agony aunt on call 24/7?

Virginia Ironside was my landlady

Tim Willis reveals what it's like to live with an agony aunt on call 24/7
Paris Fashion Week 2015: The wit and wisdom of Manish Arora's exercise in high camp

Paris Fashion Week 2015

The wit and wisdom of Manish Arora's exercise in high camp
8 best workout DVDs

8 best workout DVDs

If your 'New Year new you' regime hasn’t lasted beyond February, why not try working out from home?
Paul Scholes column: I don't believe Jonny Evans was spitting at Papiss Cissé. It was a reflex. But what the Newcastle striker did next was horrible

Paul Scholes column

I don't believe Evans was spitting at Cissé. It was a reflex. But what the Newcastle striker did next was horrible
Miguel Layun interview: From the Azteca to Vicarage Road with a million followers

From the Azteca to Vicarage Road with a million followers

Miguel Layun is a star in Mexico where he was criticised for leaving to join Watford. But he says he sees the bigger picture
Frank Warren column: Amir Khan ready to meet winner of Floyd Mayweather v Manny Pacquiao

Khan ready to meet winner of Mayweather v Pacquiao

The Bolton fighter is unlikely to take on Kell Brook with two superstar opponents on the horizon, says Frank Warren
War with Isis: Iraq's government fights to win back Tikrit from militants - but then what?

Baghdad fights to win back Tikrit from Isis – but then what?

Patrick Cockburn reports from Kirkuk on a conflict which sectarianism has made intractable