Stefan Borson: This is what Newcastle must do to become ‘world’s top club’
Newcastle United have high aspirations for the years ahead as they look to challenge Europe’s elite on a regular basis.
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.
David Hopkinson, who was appointed as chief executive at St James’ Park in September, has ambitious plans to help the Tyneside club compete with Europe’s top sides consistently in the coming years.
Speaking at an event last week, Hopkinson revealed he wants Newcastle to be in the debate about who’s the world’s top club by 2030.
Newcastle must increase wage bill to match Man City
Former Man City financial adviser Stefan Borson exclusively told Football Insider Newcastle must increase their wage bill to compete with some of their Premier League rivals.
The Tynesiders’ wage bill stood at £219million in their latest published accounts for 2023-24, while Man City’s total was £413m.
Speaking exclusively to Football Insider about Hopkinson’s ambitions, Borson said: “Look, you have to set big, audacious goals and that’s what he’s doing. It’s happened at other clubs.
“Garry Cook said some startling things in about 2010 about City being one of the leading clubs maybe by 2020, or words to that effect and it actually turned out to be right.
“You do have to set those goals as a leader of an organisation like Newcastle.”
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.
Newcastle face ‘issue’ achieving new arrival’s ambitions
Borson insisted Howe’s side must qualify for the Champions League every season to bridge the gap between themselves and the elite clubs.
“The issue Newcastle have got remains how they get enough money in the funnel at the top in terms of revenue to then to be able to deliver a wage bill that allows them to be competitive both in the Premier League and also in the Champions League,” said Borson.
“It’s really hard because they are way behind. They’ve got a wage bill that’s not far off half of City and Liverpool, for example. It’ll probably be a third less than Arsenal. So, how in those circumstances do you bridge that gap? Well, it’s very hard to say how you do it.
“The first thing is you’ve got to qualify for the Champions League every season for a few years. Can they do that? I don’t know.”
Newcastle smashed their club-record revenue in 2023-24 after their overall turnover surged to £320m.
Meanwhile, Man City generate the highest revenue in the Premier League, with their turnover reaching £715m across the same campaign.
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