Newcastle United outline £55m plan after deal gets green light – sources
Newcastle United are aiming to generate £55million per season from matchday income at a refurbished St James’ Park, sources have told Football Insider.
The Tyneside club have given the green light to move forward with plans to expand the stadium to a capacity of 60,000.
The project will add 8,000 seats to the stadium and also focus on an improvement of the venue’s hospitality sectors.
Newcastle generated £38million from matchday income in the 2022-23 season – a figure the owners are eager to increase as quick as possible.
The club’s participation in the Champions League this season means an increase to over £40million is likely for their 2023-24 accounts.
However, sources have told Football Insider that the long-term goal for Newcastle is to generate £55million annually.
Newcastle United owners target £55m payout from stadium plans
Income from a newly-constructed fan zone at Strawberry Place, funded by Saudi Arabian sponsors Sela, is also expected to grow revenue.
Senior figures at Newcastle are working towards increasing all revenue streams ahead of a change to Premier League financial rules in 2025-26.
Top-flight clubs will then have spending on transfers, wages and agent fees capped to 85 percent of overall revenue.
The regulations are set to replace the current Profit and Sustainability Rules, which prohibit teams from losing over £105million over a three-year rolling period.
In other news, Newcastle to agree double deal in new Dan Ashworth twist
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