Newcastle United prices to soar after deal gets green light – Kieran Maguire
Newcastle United will have to raise prices and target the “prawn sandwich brigade” to increase their matchday income at an expanded stadium.
That is the view of finance expert Kieran Maguire, who exclusively told Football Insider that it will take Newcastle time to recoup the costs of expanding St James’ Park.
Newcastle have given the green light to expand St James’ Park to a capacity of 60,000 after completing a six-month feasibility study.
As revealed by Football Insider, senior figures are aiming to generate £55million in matchday revenue from an expanded St James’ Park.
The Tyneside club are ready to move forward with their stadium expansion after weighing up plans to build a new stadium.
Newcastle United to raise ticket prices after stadium expansion confirmed
Maguire believes Newcastle will use their expansion to increase the number of hospitality areas and high-priced tickets during matchdays.
“I think a bigger stadium is critical from their point of view,” Maguire told Football Insider’s Sean Fisher.
“I think we will be looking at higher-priced offerings because the only way that this will be of benefit to Newcastle United is if they target the prawn sandwich brigade.
“The construction costs to expand an existing piece of architecture are very pricey so it will take time to earn that money back.
“But the demand is there and they may need to create facilities which can be used on non-match days which could have a transformative effect on commercial income.“
In other news, Newcastle United miss big opportunity – Kieran Maguire ‘surprised’ by £55m+ news
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