Newcastle have announced a loss of £11.1m in their 2023-24 accounts, a significant reduction on the £71.8m loss the previous season.
The improved figures were helped by a 28% increase in revenue to £320m, largely down to their participation in last season's Champions League, and a £70m profit from player sales.
Newcastle sold Allan Saint-Maximin to Saudi Arabian side Al-Ahli in July 2023, while Elliot Anderson and Yankuba Minteh were high-profile departures shortly before the accounting deadline of 30 June 2024.
That helped balance out a significant summer 2023 transfer spend on the likes of Harvey Barnes for £38m from Leicester, Sandro Tonali from AC Milan for £55m, Tino Livramento from Southampton for an initial £32m and Lewis Hall from Chelsea for £28m.