Finance guru: Newcastle United have just banked 'money for nothing' as new deal agreed
Newcastle United have banked “money for nothing” through their latest commercial deal.
That is the view of finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about the Tynesiders’ new partnership with Dr Cinik.
The club revealed last Monday (5 September) that they had agreed a deal with the hair transplant specialists.
The Turkey-based clinic’s branding will feature on advertising hoardings at St. James’ Park and on the club’s social digital channels.
Newcastle became the world’s richest club following the Saudi Public Investment Fund’s takeover in October last year.
Their master plan is to boost commercial income in order to satisfy Financial Fair Play stipulations and fund lavish transfer spending.
Plumley claims that the deal with Dr Cinik is a simple and unproblematic windfall for the Magpies.
“This is one of those that is more for the company than the club,” the Sheffield Hallam University exper told Football Insider’s Adam Williams.
“You can see why a company like that would gain some traction given English football’s male-dominated, middle-aged audience.
“The benefit for Newcastle is extra cash in the bank through the commercial partnership, and it’s basically money for nothing.
“We always talk about fit in sponsorship terms, but this is more just from the company’s side of things and the money for Newcastle is just a bonus.”
Newcastle’s front-of-shirt deal with Fun88 is due to expire at the end of the current campaign.
They struck a sleeve sponsorship deal with PIF-linked Noon.com before the outset of 2022-23.