Newcastle United miss big opportunity – Kieran Maguire ‘surprised’ by £55m+ news
It is a big surprise that Newcastle United chose to expand St James’ Park rather than build an entirely new stadium.
That is the view of finance expert Kieran Maguire, who exclusively told Football Insider that Newcastle chiefs were likely forced to expand the ground as the club would struggle to find a temporary home if they chose to build a new stadium.
It is understood that Newcastle are moving forward with plans to expand St James’ Park to a capacity of 60,000.
As revealed by Football Insider, senior figures at the club are aiming to generate a minimum of £55million per season from matchday income at the refurbished ground.
The new owners in Tyneside were reportedly considering building a new stadium for the club but instead opted to expand their current home.
Newcastle United stadium miss opportunity to copy Tottenham
Maguire admitted that he was surprised by the decision but later explains that Newcastle would have struggled to find a temporary home during construction.
“I’m surprised at the stadium decision,” Maguire told Football Insider’s Sean Fisher.
“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.“
In other news, Newcastle to start St James’ Park rebuild ‘within months’ – Keith Wyness
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