Newcastle United must land £500m windfall to be ‘world’s top club’
Newcastle United are looking to consistently challenge at the top of the Premier League table over the coming years.
Newcastle qualified for the Champions League last season, making it two campaigns out of three where Eddie Howe’s side have competed in European football’s elite club competition.
Due to the riches on offer in the Champions League, Newcastle could significantly boost their financial situation if they reach the latter stages of the competition this season.
The Tyneside club currently sit 11th in the Champions League table, with eight clubs qualifying automatically for the last 16 and ninth to 24th competing in a play-off.
Newcastle are planning to rub shoulders with Europe’s elite on a regular basis if new chief executive David Hopkinson can deliver on his ambitious plans at St James’ Park.
How Newcastle plan to reach the top by 2030
Newcastle appointed Hopkinson as CEO in September, with the 54-year-old replacing Darren Eales.
The Canadian joined the north-east giants from Madison Square Garden Sports, where he was president and chief operating officer, spearheading the business operations of the New York Knicks and New York Rangers.
Hopkinson also previously operated as chief commercial officer during his 24 years with Maple Leaf Sports and Entertainment, focusing on Toronto Maple Leafs and Toronto Raptors’ commercial activities.
In a wide-ranging interview this week, Hopkinson discussed his plans to deliver success at Newcastle over the next five years.
“By 2030, I see this club being in the debate about being the top club in the world,” said Hopkinson (via Sky Sports).
“That’s where I see us by 2030 – and that kind of progress doesn’t take as long as you might think. What it takes is clarity of conviction. We need to be totally aligned about the fact that that’s what we want to do. We have to have the courage to ignore those that doubt us, and even those that laugh at us. Because there will be some. I’ve been through this journey before.
“I’ve done it with a total underperformer, and that’s definitely not what Newcastle is. Newcastle is already good. I’ve worked at a club that was really bad, lost all the time. In 2014, we lost just about as bad as you can. In 2019, we were having a parade. So, it’s eminently doable, but it takes that clarity, conviction and commitment.”
How much revenue do Newcastle generate?
While it’s clear Hopkinson is highly ambitious, Newcastle’s progress has been restricted by the Premier League’s spending rules since Saudi Arabia’s Public Investment Fund (PIF) purchased the club in October 2021.
Finance expert Stefan Borson told Football Insider Newcastle must generate more than £500m in revenue a season to compete at the top of the Premier League.
The Magpies posted a club-record revenue in their latest published accounts for 2023-24 after their overall turnover surged from £250m in 2022-23 to £320m.
However, they remain significantly down on Manchester City’s numbers.
Man City generated the highest revenue in the Premier League in 2023-24, with their turnover reaching £715m.
Howe’s side will receive a significant financial boost once they decide on whether to build a new stadium or redevelop St James’ Park.
However, Newcastle are facing a stadium delay after Hopkinson has revealed the club are not yet ready to make a decision on their stadium plans.
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