‘Newcastle have smashed club record but triple-your money is needed’
Newcastle United may be competing for Champions League qualification this term but the Saudi-backed side are lagging behind many of their rivals financially.
Football Insider revealed on 8 January Newcastle’s revenue surpassed £300million for the first time last season.
However, recent analysis from Deloitte‘s Football Money League (23 January) has revealed that Man City (£708million), Man United (£651million), Liverpool (£594million), Tottenham (£549million), Chelsea (£513million) and Arsenal (£463million) all raked in far larger figures.
Everton’s former chief Keith Wyness – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – has had his say on where Newcastle should be at financially.
Newcastle must ‘double or triple’ revenue to compete, says Wyness
Speaking on the new edition of Football Insider’s Inside Track podcast, Wyness claimed Newcastle have to “double or triple” their revenue levels to truly become an elite side in England.
The Magpies’ revenues dipped to just £142million in the final year of Mike Ashley’s ownership at St James’ Park.
Wyness told Football Insider‘s Insider Track podcast: “Although there has been growth, they’ve got to double it.
“They have to build the commercial growth because that’s where the money is.
“The PIF have to assist Newcastle with bringing better deals in with the companies they have, some of the biggest companies in the world.
“That could be local sponsors in Saudi, Newcastle building academies there – they’ve got to go down there a lot more.
“They’ve got to double the revenue, even triple it – if they’re going to make it where they want to be.”
Newcastle could close gap with new stadium project
Newcastle have struggled to comply with the Premier League’s financial rules since PIF secured its £305million takeover in 2021.
However, sources have told Football Insider the Magpies could significantly increase their commercial and matchday revenue to rival some of the top Premier League clubs – if they were to build a new stadium.
Newcastle have been considering plans to either build a new facility or expand St James’ Park, which has been their home since 1892.
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