Newcastle report £54m loss for 2019-20

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Alistair Magowan, BBC Sport

Newcastle United's delayed accounts for the 2019-20 season were out over the weekend and showed that losses amounted to £54m, after the club made a £14.9m profit the previous financial year. 

The newest set of accounts were adjusted for a 13-month period until 31 July 2020 and losses come to £22.5m after tax, but reflect what managing director Lee Charnley calls a "number of challenges as a result of Covid-19". 

"These results do not reflect a normal year for the group," he added, before explaining how matchday income, media income and commercial income all fell as the last five home games of that season were played behind closed doors.

Matchday income dropped by 30%, which also accounts for the fact that thousands of free half-season tickets were presented to supporters midway through the season. 

Elsewhere, Charnley's salary rose from £267,000 to £675,000, while the club also received £1.15m courtesy of the government's furlough scheme.