NEWCASTLE HANDED AN EIGHT FIGURE BLOW

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In order to resolve a protracted tax dispute with HMRC, Newcastle United has forked up £10 million, which also includes millions in additional legal expenses and costs.The club was looking at a charge of £6.25 million before interest and legal fees were included.Tax experts estimate that when HMRC added 10 years of interest payments on top, the final amount may even exceed £10 million.
In order to put an end to a protracted dispute that stemmed from Mike Ashley's ownership, Public Investment Fund, the team's owners, consented to pay the tax authorities a multi-million dollar settlement.
In addition to suing to overturn the tax bill, PIF spent millions of dollars in secret to prevent interest from being added.

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Since 2014, a probe into Newcastle and agents' fees has been ongoing.
Officers stormed the club in April 2017 and took laptops and documents as part of a criminal investigation.
The need for unpaid taxes for the years 2011–2017 were made against the club nine months after the raid.
In 2021, the criminal probe was abandoned.Nonetheless, HMRC's demands that the club pay £4.25 million in overdue national insurance contributions and £2 million in overdue VAT payments were upheld by the High Court last year.