Kieran Maguire: PIF to revive controversial Mike Ashley scheme amid £100m Newcastle United claim
Newcastle United could earn as much £10million-plus per year for a stadium naming rights deal – and supporters would be far more receptive than they were under Mike Ashley.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the latest comments from Magpies CEO Darren Eales.
The former Tottenham and Atlanta United executive revealed that Newcastle plan to make use of PIF’s portfolio of businesses in their hunt to boost commercial revenue, as quoted by The i earlier this month (12 October).
He also claimed that the Tynesiders are mulling over a naming rights deal for St James’ Park, 11 years on from former owner Ashley angered the Toon Army by christening the 52,000-seater stadium the Sports Direct Arena.
But Maguire is adamant that supporters will have no issues with their new Saudi owners seeking a stadium sponsor.
“Darren Eales will be targeting an eight-figure sum in terms of overall revenue per year and it’s likely to be in excess of a 10-year deal,” he told Football Insider’s Adam Williams.
“There is no doubt that the Newcastle fanbase are likely to buy into a naming rights deal for St James’ Park in exactly the same way they didn’t buy into the Sports Direct Arena plans of Mike Ashley.
“They saw no benefit to the club in terms of their ability to compete in the top markets. They will be far more receptive to this under the current ownership.“
“They are well aware that the club needs to see an increase with respect to its commercial revenues in order to sign the best players.”
In other news, pundit backs Newcastle United to sign Miguel Almiron replacement in January after “brilliant” development.