Failure to qualify for the European Champions League translated into heavy financial costs for Newcastle United for the year to the end of July. The lack of participation in a competition which contributed £4.5m to profits the previous year, clearly impacted on pre-tax profits, which were reduced to £1.4m (£5m). Turnover fell 9% to £44.7m. Nevertheless, there are some promising plans afoot. The expansion of St James' will cater to a fanatical support base - home games have seen consistently full attendances and there is even a season ticket waiting list. Moreover, with BSkyB's contract for rights to the Premier League due to expire at the end of next season, negotiations for a new deal are set to begin. The indications are that the media-generated revenues could more than double this time round.