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Newcastle United: Finance expert on Ohio Cup withdrawal

Newcastle United: Finance expert on Ohio Cup withdrawal -Newcastle United News

Finance expert Dr Dan Plumley has been left reacting to some ‘very disappointing’ news that he has now heard involving Newcastle United.

The Lowdown: Ohio Cup cancelled

As per The Daily Mail, the proposed Ohio Cup pre-season tournament, in which the St James’ Park club were set to take part, has been cancelled by the organisers without much explanation.

The Magpies, who were due to play Wolves and two teams from La Liga – thought to be Villarreal and Valencia – were left fuming by the cancellation at such short notice, which has now left them scrambling over their pre-season plans.

The Latest: Plumley reacts

Speaking to Football Insider, Plumley has given his reaction to the news, claiming that it is ‘very disappointing’ and a ‘blow’ for Newcastle to miss out on the cash windfall which would have stemmed from their participation in the Ohio Cup.

He stated: “It is a blow. They aren’t going to close the gap on the top four any time soon but they are trying to diversify and grow in other areas to boost their revenue and bridge the gap.

“This is really important for clubs like Newcastle who are going to be on the threshold of smashing the glass ceiling in future years.

“It might not be in the 20s or 30s of millions but it could be, maybe, £10m or so.

“A lot of planning and operation stuff goes into it. There is strategy and branding all tied into this. To have it cancelled without much in the way of the reason is very disappointing.

“They will now have to reset their planning, so you can understand the reaction.”

Should Newcastle have hired Howe?





The Verdict: Not ideal

The cancellation of the Ohio Cup is certainly not ideal for Newcastle, even if it is just £10m or so that they have lost from its cancellation.

Eddie Howe and his squad would have already had plans in place for the trip, and they could have tested themselves against a Wolves side who finished above them in the Premier League table; and possibly Villarreal, who reached the semi-finals of the Champions League.

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Nonetheless, they will now have to make new summer plans quickly, as they look to prepare themselves in the best possible way for what could be a big season ahead at St James’ Park.

In other news, one player is allegedly ‘close’ to joining NUFC

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