Kieran Maguire issues ‘toxic’ £27m Newcastle United claim – ‘this is absolutely critical…’
It is ‘absolutely critical’ that Newcastle United improve on their £27million commercial revenue next season.
That is the view of finance expert Kieran Maguire, who spoke exclusively to Football Insider about the ‘huge growth opportunity’ at St James’ Park.
Newcastle released their financial accounts for the 2021/22 season on March 30, with the club reporting commercial revenue of £26.5m
It marks a 52 per cent increase on their previous commercial income of £17.6m the year prior but it remains a figure that trails considerably behind the ‘Big Six’ in the Premier League.
The accounts show the financial state of the club under Mike Ashley, with revenue expected to increase considerably in next year’s accounts following the club’s takeover.
Maguire expects Newcastle to focus on revenue growth in anticipation of new Uefa financial sustainability rules which will cap spending based on a percentage of a club’s income.
“Newcastle’s commercial income of £26.5m in 2021/22 is still lower than their commercial income in 2006/07,” Maguire told Football Insider.
“This is indicative of the Mike Ashley regime and the toxic atmosphere that was created under the owners.
“There is now a huge growth opportunity for this area of revenue as those 2021/22 figures represent deals that were essentially signed by Ashley.
“Newcastle’s accounts don’t yet include the impact of the takeover.
“I would expect a significant positive change in terms of commercial revenue last year.
“This is absolutely critical, especially if the Premier League adopt the Uefa financial and sustainability rules which will correlate revenue with wages.“
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