By July 2007 Mike Ashley had assumed 100% control of the now relegated club for £134 million with additional payments on outstanding loans raising the figure to the region of £250 million. By September 2008 it was widely reported the businessman was willing to sell the club in the region of £400 million, an asking price unrealistic at the time due to the economic downturn and one which is certainly out of the question now.
The 2009 football money league report by Deloitte placed Newcastle 17th in terms of revenue for football clubs around Europe. The British club had revenues of £99.4 million in 2008 which is behind only Spurs, Arsenal, Chelsea, Liverpool and Manchester United in the Premiership.
The club from Tyneside are one of only three clubs that appear on the money league report that did not play in European competition in 2007/2008. Their revenue breakdown is as follows, £32.4 million (Matchday), £41.1 million (Broadcasting) and £25.9 million (Commercial).
Short term commercial revenues are unlikely to take a major hit as Northern Rock has vowed to honour its contract with Newcastle despite being under government ownership. The future of matchday revenues is uncertain as although the club has a loyal fan base, average attendances have dropped in the season 2008/2009 to 47800 from 51300 in the previous campaign. Broadcasting revenues will shrink and with the wage bill at £70 million, the club will have to scale down considerably.
Mike Ashley has recently put the club up for sale for £100 million, a significant loss on his initial investment.
