Newcastle United registered club-record revenue for the 2021-22 financial year, sources have told Football Insider.
The Magpies’ turnover for their first post-pandemic season surpassed the £ 178.5 million they recorded in 2017-18.
That outlay coupled with the inspired appointment of Eddie Howe saw the club not merely dodge relegation but only narrowly miss out on a top-half finish
A source has told Football Insider that the return of matchday income and an upswing in both commercial and broadcasting revenue mean the Tynesiders’ turnover hit an all-time high.
The club is due to release its accounts, which cover the 12 months up to 30 June 2022, by 31 March next year.
The 2021-22 campaign was the most significant in Newcastle’s recent history as Mike Ashley’s 14-year reign came to an end with the PIF’s £305m takeover.
Commercial revenue had stagnated under Ashley and PIF is already exhibiting far more ambition in this department.
The club has announced seven new sponsorship deals since the takeover, four of which are with companies in whom PIF has either a stake or close corporate links.
The Premier League’s Financial Fair Play rules mean that Increasing revenue will be crucial if Newcastle are to unlock the near-limitless spending power of their owners.
In other news, a pundit suggests Newcastle United could sanction £70m Moises Caicedo bid after the journalist’s update.
Leave a Reply