Llambias happy with Newcastle accounts

Newcastle managing director Derek Llambias has revealed he is very happy with the club’s drama-free accounts, as the Premier League side post a profit of more than £1m, Sky Sports has reported.

The Magpies recorded a £1.4m profit for the year ending June 2012, their second successive set of positive accounts and, Llambias believes, a reflection on the framework imposed at the club in order to safeguard its financial future.

” Llambias said. “We are very happy we have posted a profit this year and we are delighted we are staying within our model.

We will continue to stay within our model to provide decent players on the pitch and also to give affordable ticket pricing to our fans. It’s working very well.

Newcastle spent heavily in the January transfer window in an effort to ward off any threat of relegation, bringing in Moussa Sissoko, Yoan Gouffran, Mathieu Debuchy, Massadio Haidara and Mapou Yanga-Mbiwa, but the club’s recent transfer activity has been entirely financed by the £35m sale of Andy Carroll to Liverpool.

Llambias added that the Carroll sale was the beginning of the new approach at the club, having allowed Newcastle to post a profit of more than £32m a year ago. On the Carroll money, he continued: “ It’s been well and truly put back into the club. Whatever you say about that deal, it kick-started us into a different sphere.

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