NEWCASTLE UTD FINANCE:
PIF Investment, PSR Compliance & Commercial Revenue Growth

Newcastle United: 2024-25 financial results – the key takeaways

First profit in the PIF era: Newcastle reported a profit after tax of £34.7million. This represents a huge improvement from the £11.1m loss reported in the previous year.
Record-breaking revenue: Total turnover reached £335.3m, a record for the club. What makes this particularly impressive is that it was achieved in a season where the club did not have the windfall of European (Champions League) television and matchday money.
Commercial improvement: There was a 44 per cent surge in commercial revenue, rising to £120.1m. This was driven by a new Adidas kit deal, the opening of the “St. James’ STACK” fan zone, and a more robust in-house retail operation.
Strategic asset reorganisation: The profit was heavily supported by a £133.2m gain from the sale of leasehold improvements at St. James’ Park and the “Newcastle Projects Limited” entity to a subsidiary of the club’s parent company. This move reorganised property assets to facilitate future stadium development and financing.
Operational costs vs revenue: Despite the record revenue, the club’s underlying position shows high spending. Staff costs (wages) rose to £343m, which actually exceeded total revenue (102% ratio). The reported profit was only made possible by the asset disposals mentioned above.
On-pitch success: The financial health was bolstered by the club winning the EFL Cup and finishing fifth in the Premier League, which secured Champions League qualification for the following season.

Financial Metric	FY 2024-25 (£)	FY 2023-24 (£)
Total Turnover (Revenue)	£335.3m	£320.3m
Commercial Revenue	£120.1m	£83.6m
Matchday Income	£51.6m	£50.1m
Staff Costs (Wages)	£343.0m	£318.0m
Profit on Disposal of Assets	£133.2m	–
Profit / (Loss) After Tax	£34.7m	(£11.1m)

Newcastle United‘s figures were announced after it was revealed they had slightly dropped to 17th in the 2026 Deloitte Football Money League, which rightly projected a £335million turnover for the 2024-25 financial year.

Who are the key Newcastle United boardroom and background figures?

Ever wondered who the key decision-makers are in the Newcastle United boardroom? There is a whole technical team at St James’ Park working to make the club muscle in on the big boys and become one of the dominant forces in the Premier League and Champions League.

Below is a list of all the key names working behind-the-scenes to make things tick at St James’ Park.