Steve McClaren would cost Newcastle United around £2million in compensation if the club were to appoint him as their next boss. As reported by Sportsmail in January, Newcastle will make Derby County’s McClaren their No 1 managerial target in the summer. No approach has yet been made to Derby, who remain in contention for promotion and the work done by McClaren has attracted admirers. Steve McClaren would cost Newcastle United £2million in compensation if they chose to approach him . He signed a new three-year contract in August, and Derby would command a significant sum for his services should he depart. Chief executive Sam Rush said on Monday: ‘We have not had any approach, discussion or communication of any sort, whatsoever. ‘Whether it is speculation about your manager or players, you are likely to have this sort of thing if people are being successful. John Carver's chances of earning the permanent job seemed doomed if he doesn't improve his results . ‘Traditionally, it is more likely to be with players, but I think the job Steve has done here has been significant. The position from Steve has been very consistent. ‘He was only three or four months into his new contract when the speculation first came out, and he dismissed it then. From my point of view, I think Derby County is an incredibly exciting football club. I can’t think of anywhere anyone would rather be, especially given the start of the building programme Steve has undertaken and how well he has done.’ Meanwhile, Newcastle have announced record profits of £18.7m for last season, but fans say the figure has provoked more questions than answers. Mike Ashley will be pleased to see Newcastle have announced record profits of £18.7million for last season . The club have not released the full annual report, only selecting highlights with no detailed explanation as to how £28.5m of extra costs have been incurred. Mark Jensen, editor of online fanzine themag.co.uk, said he had expected profits for the 2013-14 campaign to be closer to £50m given the increase in income from television rights and the sale of Yohan Cabaye to Paris Saint-Germain for around £20million. Jensen said: ‘Everyone knows how much these clubs are getting from TV, so Newcastle fans would like to think more profit would mean more team strengthening but that has not been the case. There seems to be both a lack of transparency and ambition.’ Fan favourite Yohan Cabaye was sold to Paris Saint-Germain for £20million in last seasons January window .
Steve McClaren would cost Newcastle United £2million in compensation . The Derby boss is believed to be the Magpies top managerial target . Newcastle announced record profits of £18.7million for last season . Click here for all the latest Newcastle news .