Over the last number of years the glare of the football media spotlight in the North East has been placed upon the woes of a Mike Ashley owned Newcastle United. However, the local football media is ill-equipped to analyse the corporate operations and financial status of our regional clubs and that has allowed those people who own them to often run our clubs without being called to account by a local media who I’ve heard claim this as their reason for existing. In the days when it was Hall and Shepherd pulling tens of millions out of United, The Chronicle and others were virtually silent with their main writers having an unhealthily close relationship with Hall and Shepherd. It has barely been any better with Ashley in the chair but thanks to the work of several qualified accountants associated with true faith, this position has altered markedly. Everything that can be known about United’s finances has been covered at length in these pages.

In the absence of any real local analysis of the running of Ellis Short’s Sunderland AFC, we decided to ask one of our financial people, Tom McMenemy to stick his nose into their accounts and let us know what he’s found. That discovery is in the new issue of true faith.

Obviously, we are expecting a mixed reaction to such an article appearing in such a nakedly partisan publication as true faith. I completely expect Sunderland supporters to react as they frequently do with personal abuse, threats and all the rest of it. However, I’m sure their more cerebral supporters  (and there are plenty) will read the piece and conclude it is a fair-minded analysis of the position Sunderland is in and just what threat relegation is to their future and indeed just how abysmal a job Ellis Short has made of running their club.

We’ve published this piece because we believe it is important for Newcastle United supporters to understand what is going on down the road and for us all to be wise to the foolishness that has underpinned the running of our major rivals. This kind of article isn’t for everyone but for those who want to have a far deeper and rounded understanding of how crazy football clubs operate, we think this is a very worthwhile read.

You can get at this article – SUNDERLAND FINANCES – by just clicking here.


Of course, you can get at the full issue of the latest issue of true faith (TF127) by just clicking on the image below. true faith is Newcastle United’s longest running and by far most popular fanzine. It is the UK’s most widely read, independent, fans’-led publication. It is completely FREE and available to you in digital format. It is excellent on any device but we do recommend i-pad and tablet especially.

We all hope you enjoy it.