Football finance, from the outside inThe Orange LedgerFor professionals

Newcastle

Squad cost ratio (SCR) for the 2026/27 season: the Orange Ledger's independent estimate for the Premier League's 1 March 2027 test, updated as new data arrives.

SCR under the rule81.7%Range 76.4% to 85.5% · ranked 15 of 20
Before player-sale profit108.8%Squad costs against revenue alone
Distance to 85%3.3 ptsBelow 85%: no levy

Where the revenue goes

Squad costs as a share of revenue
Player and head-coach wages: £177.3m, 53.3% of revenueTransfer amortisation: £172.0m, 51.7% of revenueAgents' fees: £13.7m, 4.1% of revenueHead-coach fees to other clubs: £2.2m, 0.7% of revenueRelief on players lent out, net: −£3.6m. The hatched part of the costs is offset by it, so squad costs are £361.6mCosts exceed revenue by £29.1mSCR limit108.8%of revenue

Costs exceed revenue by £29.1m

Squad costs under the rule
Player and head-coach wages: £177.3m, 40.1% of revenue + avg sale profitTransfer amortisation: £172.0m, 38.9% of revenue + avg sale profitAgents' fees: £13.7m, 3.1% of revenue + avg sale profitHead-coach fees to other clubs: £2.2m, 0.5% of revenue + avg sale profitRemaining revenue: £80.8m, 18.3% of revenue + avg sale profitRelief on players lent out, net: −£3.6m. The hatched part of the costs is offset by it, so squad costs are £361.6mSCR limit81.7%of revenue +avg sale profit
  • Player and head-coach wages £177.3m
  • Transfer amortisation £172.0m
  • Agents' fees £13.7m
  • Head-coach fees to other clubs £2.2m
  • Relief on players lent out, net −£3.6m
  • Remaining revenue

The squad costs the same £361.6m in both rings; only what it is measured against changes. Adding the three-year average profit on player sales (£109.9m a year) to revenue takes the ratio from 108.8% to 81.7%: that gap is what selling players is worth to Newcastle under the rule.

Squad costs and revenue: the Orange Ledger's estimate for the 1 March 2027 test, rolled forward from the 2024/25 accounts; three-year average of player-sale profit. The 85% tick marks the rule's limit on each ring.

Filed accounts, 2024/25

Revenue, £m
335.3
Profit before tax, £m, as filed
34.7
Net assets, £m
333.0

Premier League, nearest group accounts as filed at Companies House, read twice. Losses and net liabilities in brackets.

20 seasons of finances →
Next date for Newcastle31 March 2027Newcastle's 2025/26 accounts due at Companies House: the filing that tests this estimateFull calendar →

How the SCR is built

Estimate for the 1 March 2027 test, £m

Player and head-coach wages177.3
Transfer fees, spread over contracts172.0
Agents' fees13.7
Head coach's fee to another club, spread over his contract2.2
Loans, net: players borrowed, less relief on players lent(3.6)
Squad costs361.6
Revenue counted by the rule332.5
Three-year average profit on player sales109.9
Revenue plus averaged sale profit442.4
SCR under the rule81.7%
Before player-sale profit108.8%

SCR = squad costs ÷ (revenue counted by the rule + three-year average profit on player sales).

Latest filed accounts

2024/25, year to 30 June 2025, £m

Turnover323.1
Media160.9
Commercial108.3
Matchday51.1
Uefa0.0
Other income2.8
Staff costs, all employees241.3
Transfer fees written off (amortisation)99.9
Profit on player sales19.9
Squad book value (player registrations)281.1
Transfer fees owed to other clubs91.3
Transfer fees owed by other clubs39.5

Newcastle United Football Company Limited (company 00031014), as filed at Companies House. The SCR uses the club's accounts, rolled forward to 2026/27.

SCR 2026/27 articles

Figures are from the latest completed checkpoint. They are the Orange Ledger's estimates, not official figures. Newcastle's finances, season by season · All 20 clubs.

Financial sanctions on record

Every decision, with its source, is in the sanctions register.

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