Newcastle man savaged over ‘big statement’ – this will come back to haunt him’
Newcastle chief executive David Hopkinson’s high ambitions for the club currently cannot be backed up.
That is according to ex-Everton, Aston Villa, and Aberdeen chief executive Keith Wyness, speaking exclusively to Football Insider, after Hopkinson said he wanted Newcastle to be the “top club in the world” by 2030.
Newcastle’s 2-1 win over Burnley currently has the Toon 12th in the Premier League table, whilst their draw at Bayer Leverkusen last time out means they’re in a good position to qualify for the knockout stages of the Champions League.
Saudi Arabia’s Public Investment Fund has owned Newcastle since 2021, in a move which boosted the club’s ambitions to challenge at the top of European football.
Newcastle don’t have ‘top level revenues’
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 – believes Newcastle need to increase their revenue streams.
Speaking on the new edition of Football Insider‘s Inside Track podcast, Wyness thinks Hopkinson’s comments may “come back to haunt him.”
He told Football Insider‘s Inside Track podcast: “Well, Mr. Hopkinson certainly has kicked off with some big statements and I don’t know if they can really back them up.
“For that to happen, they’d have to be able to unleash the whole Saturday spending potential. And while we just talked about the other week of the league agreeing, you know, the new SCR rules, there is no way that’s going to happen.
“They haven’t even, you know, they haven’t even looked at the new stadium project or announced it yet. There may well be a redevelopment of Newcastle. But that won’t give them top level revenues where they would need to break into something like what PSG and Man City did years ago.
“But the rules have changed and so unless they can find new revenue streams to really improve that, then I’m afraid his words will come back to haunt him.”
Newcastle delay major project
Newcastle’s stadium plans look to be further delayed after St James’ Park was announced as a host venue for the 2028 Euro’s.
The club want to either redevelop St James’ Park to increase its capacity or build a new stadium on nearby land.
Any project does not look set to commence in the short-term, in a move which would increase the club’s matchday revenue.