Newcastle owners bankroll £15m injection – official documents filed
Newcastle United’s owners have injected £15million into the club in the form of a new share issue, sources have told Football Insider.
A Companies House submission published on Thursday (9 January), backdated to 31 December, revealed £15million was paid into the club for one new allotted share.
It’s so far unclear whether the new cash injection will go towards covering the operating costs at St James’ Park or potentially contribute to this month’s transfer budget.
Saudi Arabia’s Public Investment Fund (PIF) has been regularly investing in the club since it secured its £305million takeover in October 2021.
Football Insider revealed on 20 November PIF had injected £35million into Newcastle in a similar transaction.
A further Companies House submission on Thursday confirmed Jacobo Solis has been appointed as a new director at St James’ Park.
The Spaniard is Head of Europe Direct Investments in the International Investments Division for the Saudi sovereign wealth fund and has been involved with the north-east giants since the takeover was completed.
Newcastle to announce club-record revenue for last season
Newcastle have struggled to comply with the Premier League’s financial rules since PIF bought the club alongside the Reuben Brothers and PCP Capital Partners.
The Tynesiders recorded losses after tax of £70.7million in 2021-22 and £73.4million in 2022-23, raising concerns around the financial situation at St James’ Park.
Eddie Howe’s side were believed to be close to the profit and sustainability (PSR) limit last season following those heavy losses, with top-flight sides only permitted to lose £105million over a rolling three-year period.
They were forced to sell Elliot Anderson and Yankuba Minteh before last year’s 30 June accounting deadline to avoid a potential spending breach for 2023-24.
But Football Insider revealed on 8 January Newcastle are expected to announce a club-record revenue beyond £300million for 2023-24 after submitting their latest accounts to the Premier League.
That is understood to have been driven by their qualification for last season’s Champions League and an increase in commercial deals.
In other news, Newcastle make new Fikayo Tomori move after player’s U-turn.
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