Newcastle United Finance Director Quits
Wed 20th May 2015 | Football Club Management
Finance Director, John Irving has announced he is to leave relegation threatened Newcastle United.
Irving was appointed to the club’s board of directors after former Managing Director, Derek Llambias quit in the summer of 2013, and has worked at the club for seven years.
He will leave the club, who face West Ham at the weekend hoping to secure their place in the Premier League next season, to take up a post at Newcastle Airport.
Newcastle face the very real prospect of dropping out of the Premier League after a disastrous campaign following Alan Pardew’s departure to Crystal Palace.
Having accumulated just seven points since the turn of the year under John Carver, there has been growing discount from fans angry at the way Mike Ashley is running the club.
Along with Hull City and rivals Sunderland, Newcastle face the prospect of missing out on the bumper TV broadcasting deal that comes into play from 2016 with clubs expected to make a minimum of £100m.
Analysis of Newcastle’s accounts by Deloitte in their annual football money league shows that they rely heavily on the money the Premier League’s TV rights deal brings in, with 60% of their total revenue coming from broadcasting.
The ramifications of relegation could be significant with players believed to have no form of relegation clause in their contracts meaning they would not be able to reduce their wage bill in line with the reduction in income. This is something which Hull and Sunderland have built into their player contracts.
Image: A Newcastle fan holds up a banner in protest towards owner Mike Ashley.
Action Images Reuters / Andrew Yates Livepic
Posted by: Aaron Gourley
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