Newcastle United CEO Darren Eales has spoken publicly following the club’s latest financial figures being released.
The Magpies announced a 40 per cent increase in revenue for the second consecutive year and Eales believes the club are firmly on course to ‘fuel their success’.
The 51-year-old didn’t just discuss finances though — also on the agenda was the club’s transfer plans.
And warning the team’s current stars that they could be moved on in order to help the club comply with Financial Fair Play (FFP) rules, Eales explained the thought process behind why a player may be sacrificed.
“When you can trade players, sometimes trading players can create headroom,” the CEO said.
“Just to give a basic example, if we have a player that is worth £50 million profit if we were to move him if we move that player and bring in a player on the same wages at £50 million, so like-for-like, we amortize that player over five years, it’s only a £10 million hit, so the net value of that is you create £40 million of headroom.”
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?? January transfer windowWe spoke with #NUFC CEO Darren Eales after financial results for the 2022/23 financial year were announced. pic.twitter.com/V7EM0m3XwM
— Newcastle United FC (@NUFC) January 11, 2024
Ending his interview with a quick word on this month’s transfer window, and hinting at what fans can expect, Eales reminded supporters just how difficult the winter window is to navigate.
“January is not the greatest window to trade in; the summer is always better,” he added.
“I think it’s very difficult to get value in the January window because most clubs don’t want to let their better players go at such a crucial time.”