By Kieran Maguire

2nd Oct, 2022 | 7:00am

Kieran Maguire: Newcastle United have 'dodged a bullet' as £400m deal collapses

Newcastle United and their peers may have dodged a bullet” after the collapse of the Premier League’s NFT deal.

That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the now-shelved deal with ConsenSys.

The Times reported last Friday (23 September) that the New York-based company is experiencing difficulties amid a mini-crisis in the blockchain marketplace.

It is understood that a Premier League-wide deal is still possible but unlikely to be struck at the £400m that has previously been cited.

Newcastle pocketed £20million in commercial income in 2020-21.

The Magpies know that sponsorship and merchandising are key to unlocking the limitless spending power of their Saudi owners.

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But Maguire claims that the collapse of the league-wide NFT deal may not be the worst outcome for the Tynesiders.

“Given what has happened with a number of crypto and NFT deals in the past, perhaps the Premier League has dodged a bullet by avoiding this £400m deal,” he told Football Insider’s Adam Williams.

“We have just seen the Inter Milan deal collapse. They have lost their front-of-shirt sponsor. We have seen similar cases time and time again.

“I suspect £400m would have been a maximum amount rather than £20m to each individual club in each individual season.

“It would have been split evenly, so everyone would have suffered the same amount. Newcastle are big and bold enough to shrug off issues of this nature.”

In other news, pundit backs Newcastle United for new signing spree after “£100,000-a-week” reveal.