Finance guru tips Newcastle for 60,000-capacity stadium to close ‘£60m’ gap
Newcastle United may raise capacity at St James’ Park to 60,000 to help close the matchday income gap on some of their Premier League rivals.
That is the view of finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about PIF’s plans to revamp the 52,000-seater stadium.
Newcastle co-owner Mehrdad Ghodoussi told The Athletic last Saturday (26 February) that the new regime will “definitely look at expanding St James’.”
He also ruled out the possibility of moving to a new stadium entirely, claiming it would be “like tearing your soul out.”
Plumley suggested a possible roadmap to boosting capacity at the famous Tyneside ground.
“It depends how big you want to go with it,” the Sheffield Hallam University expert told Football Insider‘s Adam Williams.
“It’s 52,000 at the moment. What do they think they can fill? There were online queues for season tickets when the takeover went through.
“Their attendances have dropped marginally but they have always been a well-supported club.
“You’ve got to look at the benchmarks around the league. A few teams are pushing 60,000, so that might be your first target.
“Their matchday revenue in the last non-Covid season was £25m. Spurs, Arsenal and Liverpool are all pushing towards £85m.
“So they are desperate to close and £60m gap. You have to look at corporate and hospitality to try and do that. It won’t happen overnight.
“There are planning regulations and whatnot, so you have to try and grow incrementally like Liverpool have done and go from there.”
Ghodoussi, along with business partner and wife Amanda Staveley, also promised upgraded facilities at the Magpies’ training complex.
Plumley told this site yesterday (28 February) that they could spend as much as £100m on a new base.
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