Newcastle United fans plan boycott as club's £34m cash reserves revealed

 
Joe Hall
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Newcastle fans are frustrated with what they perceive to be a lack of ambition from the club's owners. (Source: Getty)

Newcastle United fans are planning to boycott their team's home match against Tottenham on Sunday, as revelations the club had more than £34.1m in cash reserves compounded already strong resentment towards owner Mike Ashley.

Last month the club announced record profits of £18.7m yet it was revealed in the full accounts registered with Companies House that a hefty £38.6m was transferred into the club's bank account - paying off a £4.5m overdraft and leaving £34.1m available.

Fans are frustrated with owner Mike Ashley who is seen to have little ambition for on-field success and a preoccupation with profit.

The Newcastle United Supporters Trust has given its backing to a planned boycott of Sunday's match with Tottenham along with protests against Ashley before and after kick-off.

Although Ashley's Newcastle has enjoyed increasing turnover thanks to lucrative commercial and broadcasting deals, the club's transfer spend on its squad has not always followed suit.

After unpopular but relatively successful manager Alan Pardew left for Crystal Palace earlier in the season, the club declined to appoint a potentially expensive big name manager and instead opted to promote Pardew's assistant John Carver to the role of head coach.

Carver has struggled to win over fans with just seven goals scored and two games won in the 10 games since he was confirmed in the role. The team's 0-2 loss at Liverpool on Monday was their fifth in a row.

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