Football Clubs News | Football Finance News
Newcastle United will have to sell around 12 players to improve their football finance position ahead of playing in the Championship next season, according to reports.
A 1-0 defeat against Aston Villa condemned Newcastle United to relegation from the English Premier League on Sunday, with the club now needing to cut its wage bill to stay afloat.
It is reported that the club need to half their current wage bill so a radical overhaul will take place, which will see a number of the club's biggest stars plying their trade away from St James' Park next season.
This season, Alan Shearer's side had a wage bill of £74 million - the fifth highest in the division - with 15 players at the club earning in excess of £50,000 a week.
It is estimated that the club will be £50 million worse off next season, so some of their biggest assets will be put up for sale, while up to 100 club employees could also have to find new jobs.
Newcastle United had spent the last 16 years in the Premier League, after being promoted from Division One at the end of the 1992/93 season.
Written by Terry Mitchell
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21 October 2010
21 October 2010
21 October 2010
20 October 2010
20 October 2010
