Newcastle still sure on spending money from Carroll sale

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New figures may have shown that Newcastle’s finances were in the red after their Premier League relegation in 2009, but manager Alan Pardew remains convinced that he will still have money to spend this summer.

The statistics indicate that finishing in the bottom three left Newcastle £17.1m in debt, although they have since secured their promotion back into the Premier League at the first attempt.

Newcastle’s financial position would have massively improved in the aftermath of 2009 as promotion to the Premier League is said to be worth anything up to £60m, while they have also sold Andy Carroll to Liverpool for £35m this season.

Pardew had been promised that all of the money from the Carroll sale would be available to spend on new players, as he looks to improve on a squad that is still not safe from another relegation this season.

Newcastle are 12/1 in the Premier League betting to be relegated and are currently four points clear of the bottom three.

Pardew knows that staying up is essential if he wants to have money to spend on new faces and is already in talks with some potential players over summer deals.

He told BBC Radio Newcastle: “I’m as sure as I can be that we will spend the Carroll money. We are in plans and negotiations with a couple of players out of contract in the summer.

“I don’t think I’m going to win the fans over until they see we are a Premier League club next year and have begun a kind of rebuilding of the team. The players I have approached would love to come to play with 52,000 fans roaring them on.”

Newcastle face Wolves next and are 10/11 in the Premier League betting to win at St James’ Park in front of their home faithful.

A £20 stake on Newcastle beating Wolves 2-1 would return £140. New customers can sign up here to take advantage of free bets totalling up to £60.

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Craig Kemp

Craig has written for Ladbrokes since the 2010 World Cup, having previously gained a Media & Sports Journalism degree and contributed to publications including the Racing Post. His main areas of interest are horse racing and UFC, but he is also an avid X Factor gambler and likes nothing more than indulging in a spot of Hip Hop Karaoke.