Football finance expert Kieran Maguire admits he is surprised by speculation Newcastle United may be staying put at St James' Park, rather than moving to a brand new, purposed built stadia capable of drastically increasing their matchday and commercial revenue.
Tottenham Hotspur is the example used by the finance guru, who points to the fact Daniel Levy's decision to spend 1billion on a new, 63,000 venue has helped the north London outfit triple their matchday income and has allowed them to host money-spinning events such as NFL games and major concerts.
Newcastle are expected to stay at their iconic venue after conducting a feasibility study to assess options available when it comes to expanding St James' Park. The majority of supporters have stressed their desire to remain at the current location, while issues regarding where the Magpies would play their football in the interim would likely arise should they move to build a new ground.
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Newcastle are expected to increase the current capacity by around 10,000 seats, easing the growing demand for tickets, while also improving the quality of the stadium behind the scenes in a bid to increase matchday profits.
“I’m surprised at the stadium decision,” Maguire told Football Insider. "I thought it was an opportunity missed by Newcastle.
“If we take a look at what’s happened at Spurs, Tottenham have more than tripled their matchday income at a new stadium and have substantially increased their commercial income too.
“The issue with Newcastle is what they would do in the interim period – Spurs had the benefit of being able to use Wembley.
“I don’t think that opportunity is available to Newcastle, so the decision to expand the existing St James’ Park is probably done out of economic necessity rather than long-term vision.“
Newcastle chiefs have consistently relayed their desire to stay put if possible. With major work being done behind the scenes, and outside the stadium, it feels as though the smart move is to indeed build on the current venue if feasible.
Demand for tickets has significantly dwarfed the current 52,000 capacity in recent years as fans desperately hunt for matchday tickets on a bi-weekly basis. Other Premier League clubs, such as Liverpool, have proven it is possible to increase attendances while staying put.
Merseyside rivals Everton, like Tottenham, have instead sought to uproot and build a brand new, state of the art location, which will soon replace Goodison Park.
