© EuroFootball.com
The club today released a financial report for the half-year (until January 31) and announced that the team's coach Sir Bobby Robson has extended his contract with the team until the end of the 2004-2005 season.
The 71-year-old Robson came to the team nicknamed "The Magpies" in September 1999, replacing coach Ruud Gullit.
"Bobby has extended his contract for another year, which means he will train the team in the next season as well," said club president Freddy Shepherd. "I think he is as pleased as the club."
Asked about the possibility that Robson will stay with the team after the end of his new contract, the president replied: "Knowing his manner, it wouldn't be surprising."
Along with this announcement, the club's leaders stated that they are satisfied with the financial report. It stated that the club's turnover decreased by 15%, from 291 to 250 million litas. This also affected the profit, which decreased from 38 to 24 million litas. The amount spent on player salaries is 120 million litas, less than half of the club's budget.
“Today we announced the results of our operations and we are pleased with them. Despite the fact that the club dropped out of this year's Champions League, our financial indicators are good - this proves our progress on the field and in the club's management,” said the club president.
This season, the club extended contracts with England national team player Jermaine Jenas (5 years), 33-year-old striker Alan Shearer (one year), and 34-year-old midfielder Gary Speed (also one year).
The club also reduced its financial obligations by selling Nolberto Solano, Carl Cort, Nikos Dabizas, Clarence Acuna, and Wayne Quinn.
Today in Spain, the club will play the second leg UEFA Cup match. The English team won the first leg 4-1.
