Newcastle United owners face deadline to confirm £120m transfer investment

The accounts will show Newcastle’s financial statements for the 2021-22 season, up to June 30 2022 – the season the club was taken over by the Saudi Arabian Public Investment Fund, PCP Capital Partners and RB Sports & Media. Since the takeover from previous owner Mike Ashley in October 2021, significant investment has been made into the playing squad and behind the scenes.

The Newcastle owners are understood to have invested over £500million into the club since the takeover with over £250million of that spent on new signings alone. The owners have also made a series of cash injections since their £305million purchase 18 months ago.

Transfers that happened after June 30, 2022 such as Anthony Gordon, Sven Botman, Alexander Isak will not be included in the upcoming accounts but the purchases of Nick Pope, Matt Targett, Bruno Guimaraes, Dan Burn, Chris Wood, Kieran Trippier and Joe Willock will.

When is the deadline for Newcastle United to submit its accounts to Companies House?

As per UK company law, Newcastle have until March 31 2023 to submit its accounts made up to June 30 2022. The club is yet to submit its accounts to Companies House, which will detail the final days of spending under Mike Ashley as well as the first season under new ownership.

The Magpies are one of several Premier League clubs yet to submit its accounts with a March 31 deadline.

What are the consequences of submitting accounts late?

Newcastle had a reputation for submitting its accounts late during Mike Ashley’s tenure – though that could change under new ownership.

Late account submissions bring with it an automatic penalty fine, which range from £150 to £3,000 for repeat offenders of a limited company – a nominal fee for a Premier League club.

In addition, Companies House guidance states: “Not filing your confirmation statements, annual returns or accounts is a criminal offence - and directors or LLP designated members could be personally fined in the criminal courts.”

Under Mike Ashley, Newcastle regularly submitted its financial statements after the deadline and exploited various loopholes to extend the publishing of accounts.

What Newcastle United’s previous accounts showed

Last May, accounts were published showing Newcastle United Limited’s finances in the 11 months leading up to June 30, 2021 – Mike Ashley’s final season as Newcastle owner.

With Newcastle playing almost all of the 2020-21 season behind closed doors at St James's Park due to the coronavirus pandemic, the club outlined an operating loss of £13.7million, though this is down significantly from the previous year’s loss of £54million over a 13 month period.

Newcastle’s turnover was £140million while matchday revenue dropped 99% to £0.2million due to only one home match being played in front of a crowd of 10,000.

The accounts also detailed the impact of the club’s takeover which took place on October 7 2021, after the accounting period had concluded.

The filing shows the money that has been invested into the club since the takeover was completed with a sum of £167.9million paid to contribute to the settlement of the outstanding loan owed to Mike Ashley’s St James Holdings Limited as well as to help Eddie Howe bolster his squad in the 2022 January transfer window.