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James Murray

Tue 24 March 2026 12:30, UK

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Newcastle United will have a hole in their accounts for next season after missing out on a Champions League place. 

That is according to former Manchester City financial adviser Stefan Borson, who exclusively told Football Insider this season’s prize money is more like a transfer fee than recurring revenue.

Newcastle lost 8-3 on aggregate to Barcelona in the last 16 of the Champions League, having suffered a 7-2 defeat in the second leg after drawing 1-1 at St James’ Park.

Eddie Howe’s side are set to miss out on qualifying for the competition this season after slipping to 12th in the Premier League table following their 2-1 defeat against rivals Sunderland on Sunday (22 March).

However, Newcastle’s financial situation has received a significant boost following their performances in the Champions League. 

Why Newcastle faced big European costs

Newcastle could have earned an extra £10million had they managed to overcome Barcelona, but it was too big of an ask for Howe’s side. 

The Athletic’s Chris Weatherspoon revealed the Magpies banked £55.6m in prize money from the Champions League this season. 

Speaking exclusively to Football Insider, Borson discussed how that windfall will boost Newcastle’s financial situation.

“I mean, obviously it’s great, but there are costs associated with that you would think,” said Borson.

“There are increased wages and bonuses would have been paid for the qualification you would think.

“Obviously, it’s not cheap to take big squads around Europe for five or six games a season, so you do have costs. But it’s a very profitable competition, there’s no question.” 

Why Newcastle can’t rely on European revenue

Borson revealed what the prize money will do for Newcastle as they look to consistently challenge higher up the Premier League table.

“It will make a difference, but it’s gone next season is the key point,” said Borson.

“It’s not like a block of commercial revenue that might sit there every year now for the next three years, and then when that finishes, you get a renewal from a different brand. It’s not going to be like that. 

“They’re just not going to qualify for the Champions League next season, so from a budget perspective, it’s not an exceptional, but it’s like a transfer fee coming in as opposed to something that’s on the recurring revenue side.”

In terms of the financial situation at St James’ Park, Deloitte’s 2026 Money League revealed Newcastle’s revenue increased from £312m in 2023-24 to £334m last season.