Toon NET £20 MILLION || AMBROSE: Fee reduced

By Matthew Jones
March 24 2003

Newcastle are set to make the initial payment of £1 Million for Darren Ambrose. Meanwhile, they have recieved THIRTEEN MILLION POUNDS for their rollercoaster ride in the Champions League, making total club profits, £20 Million.

The fee for England U21, Darren Ambrose seems likely to be less than we first expected.

Reports today indicated Newcastle and going to give Ipswich Town just £1 million as the initial sum, even though it was said that Ipswich were after £3 million up front.

Newcastle could easily afford that £3,000,000 though! Following their Champions League Rollercoaster Ride, the club have netted £13 MILLION.

This is a club record for profits - taking total profits to £20 million for the six months ending January 31, 2003. 180% more money than this time last year!

Freddy Shepherd said: "These are a record set of results reflecting both the club's participation in the Champions League and a continuing effort by the directors, management and staff to make the club one of the best in Europe.

"I believe we are ideally placed to challenge for honours in the next five years after an extensive capital expenditure programme stretching over 10 years, combined with the development of one of the finest squad of players seen at St James's Park for some time.

"The challenge now is simple - to win something.

"We feel that we have invested in young players which are the envy of the Premier League. The two jockeys out in front can't take their eyes away from us. Manchester United still have to come to our place and that will be a moment of truth - a six pointer if ever there was one."