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Shepherd laments United decline

Former Newcastle United chairman Freddy Shepherd yesterday said he was disappointed by the club’s financial fall from grace, despite it clinging onto to its status as one of the world’s richest clubs.

United yesterday slipped from 17th to 20th in Deloitte’s world money league and still remain one of seven English outfits to remain on the golden list along with the likes of Real Madrid, AC Milan and Chelsea.

However, while Shepherd predicts a bright future for his old club, he still believes their position is a far cry from when he was at the helm at Gallowgate.

He told bdaily: “If I remember rightly we were 8th richest club in the world before I left in 2006. Our turnover in 2006/07 was around £100m and now it’s dropped down to around £86m.

“It’s disappointing to see the turnover go down especially when we were in the top ten not so long ago.”

The data released yesterday relates to the 2007/08 season, before the club were relegated.

Average league attendances in that campaign still exceeded 50,000, but uncertainty about future ownership and disappointing performances on the field, meant average league attendances dipped below 48,000 for the first half of the 2008/09.

But despite the period of turmoil which followed for the black and whites, which ultimately resulted in relegation to the Championship, Shepherd remains optimistic about the path ahead: “The club is bound to get back up into the premiership and I’m sure the numbers will rise when it does.

“Hopefully they can get into Europe in the next few years and get back to those old figures.”

Meanwhile, Professor Tom Cannon of Buckingham Business School, said United’s current ranking shows that the club still maintains a global image.

He said: “The reality is Newcastle United is a fantastic proposition. There is no reason why they can’t compete with the top four in the Premiership never mind the Championship.

“They have the advantage of being a one-club town with a massive fan base, but beyond that they also have St. James’ Park, which is arguably the best stadium outside of London.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .