Newcastle to start St James’ Park rebuild ‘within months’ – Keith Wyness
Everton’s former chief Keith Wyness has claimed Newcastle United will start rebuilding St James’ Park within six months if new financial rules are approved.
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 – insisted the Magpies’ Saudi-backed ownership is “poised” to spend big once given the green light.
On Monday (29 April), Premier League clubs – including Newcastle – voted in favour of developing plans to introduce a spending cap, which will reportedly be set at around £500million per season.
The Tyneside club have struggled to comply with the current regulations, which only permit top-flight sides to lose £105million across three seasons.
Their Saudi ownership is also eyeing investment off the pitch after completing a feasibility study into redeveloping their famous St James’ Park stadium.
Newcastle to kick off St James’ Park redevelopment as new rules voted through, says Wyness
Wyness suggested the “exciting” new rules will give Newcastle the headroom to push on with the redevelopment.
He told Football Insider‘s Insider Track podcast: “If these new rules are applied and they see some headroom, they will want to move forward with the stadium in the next six months.
“The new rules are based on TV money only, not around the other merchandise and commercial revenue. But for Uefa competitions, that revenue does become pertinent.
“We know that Newcastle’s owners do have deep pockets, and with these new rules coming in – they are poised.
“I think they can now see a way forward. They will invest in their assets, which means an exciting time for fans.”
In other news, Newcastle expected to agree defender deal.
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