Newcastle have ‘very bright future’ as PiF to agree new deals – Ex-CEO
Everton’s former CEO Keith Wyness believes Newcastle United can thrive under new financial rules as their owners find new ways to increase revenue.
Speaking on the new edition of Football Insider’s Inside Track podcast, the 66-year-old – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – suggested that the club’s new fan zone built by PiF will provide a major revenue boost.
Premier League clubs have agreed in principle to scrap the current Profit and Sustainability Rules in favour of a new squad cost ratio system which caps spending to a percentage of overall revenue.
Top flight sides will be allowed to spend 85 percent of their overall revenue on wages, transfer fees and agent fees when the rules are introduced in 2025/26.
Newcastle revealed a club-record revenue of £250million in their latest 2022-23 accounts – a figure they will hope to increase again in 2023-24.
Newcastle revenue can soar as PiF fan zone opens
The Tyneside club announced in January that construction has worked on a new fan zone next to St James’ Park which was funded by PiF and sponsored by Sela.
Wyness told Football Insider’s Inside Track Podcast that the fan zone combined with new sponsorship deals will help Newcastle thrive under new financial rules.
“Newcastle’s success under the new rules depends on how they plan to get more money in off the pitch,” he said.
“From what I know they are opening a new fan zone called ‘The Stack’ which is right outside of St James’ Park, is a 3,000-capacity venue and will be open all week.
“That is a great new revenue stream for the club to explore if it does well.
“If they can expand their sponsorship deals at fair market value and bring in new companies that PiF have links to then the future is very bright for Newcastle.“
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