Newcastle fans angered after club accounts reveal over £34m in the bank

• Newcastle’s full accounts show £38.6m transferred into bank

• Fans protest over lack of investment in team strengthening

• News comes after five consecutive Premier League defeats

• David Conn: Ashley’s Newcastle – a billboard for cheapness?

Newcastle had more than £34m sitting in the bank at the end of the last financial year, the club’s full accounts have revealed.

The club announced record profits last month of £18.7m for the 2013/14 season, but the full accounts registered with Companies House on Monday show that £38.6m was transferred into Newcastle’s bank account as a cash-flow sum – paying off a £4.5m overdraft and leaving £34.1m available.

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from Sport | The Guardian http://ift.tt/1zgjQ9y

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