Debt-ridden Newcastle Falcons staring into the abyss

[snoopy snoopy dog dog]

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The perilous financial position of Newcastle Falcons could be exacerbated in the next few months if leading sponsors carry out a threat to withdraw their support next season unless changes are made to the management of the club. There is understood to be widespread disquiet among sponsors and corporate box-holders at Kingston Park at the way Newcastle are being run by Dave Thompson, the owner and chairman, who has been criticised for autocratic management and poor communication that has led to low morale. Crowds at Kingston Park have slumped alarmingly this season, restricting the income needed to pay off mounting debts, and the withdrawal of several leading sponsors could cost the club a further six-figure sum.

The Falcons’ attendances have fallen from an average of 7,104 last season to 4,970 this season, less than half of the stadium's 10,200 capacity. With debts thought to be approaching £10 million, the shortage of income from ticket sales, hospitality and match-day revenue is making the club’s position worse by the month. The club’s credit risk score, on a scale of 0 to 100, stood yesterday at 18, categorised as “very high riskâ€.[/b]

http://www.timesonline.co.uk/tol/sport/rug...icle5607897.ece