Newcastle’s financial results have exposed the full cost of relegation, but chief sports writer Luke Edwards is more interested in what is going to happen now they are back in the Premier League

YOU only need to take a quick glimpse at Newcastle United’s accounts to realise how heavily the club has relied on the financial backing of its owner Mike Ashley.

Yet, financial results can only show us what has already happened and everyone knew the huge financial impact relegation had on a club with one of the highest wage bills in English football.

What supporters really want to know is what is going to happen next, how far the club can go and how it intends to get there and here, at least, there is far better news hidden behind the gloomy figures released yesterday.

In the four years since Ashley replaced Sir John Hall and Freddie Shepherd, it is futile to argue Newcastle United have improved as a football team because they have not.

They were a lower mid-table side when he became owner and they remain as such.

With eight games left to play, the Magpies are not entirely safe from relegation, but they are not in any immediate danger either.

However, as a business, Newcastle look far stronger, leaner and fitter than they have been at any time since he took over.

Accountants and balance sheets will never win football games, they do not give the manager an edge on a matchday, or the fans the silverware they crave, but they can help put a club into a position where these ambitions have a better chance of being fulfilled.