According to finance expert Kieran Maguire, Newcastle United could easily exceed £200m in revenue for the financial year.
Newcastle are expected to achieve their all-time highest revenue when their accounts are released at the end of the current financial year in March.
The tipped £200m plus revenue looks set to top their previous record of £178.5m set in 2017/18 but this looks to be their first post-Covid revenue to beat that previous record as the club grows both on and off the pitch under their new Saudi Arabian backed ownership.
Although it’s expected that the Magpies will ultimately post a loss in turnover following the Public Investment Fund’s spending in the January and summer window, as they staved off relegation and have turned the club into a Champions League-chasing outfit.
Finance guru Maguire told the Football Insider that he expects the Magpies to release record-breaking figures for this year as the club excel following Mike Ashley’s departure.
“I think we could easily see Newcastle significantly exceeding £200m in revenue for 2022-23,”
“They are potentially on for a 3rd-place finish, and you get another £2.5m per place. That is a great start as far as the club is concerned.
“They have announced new deals, one of which is the sleeve sponsorship which is a significant upgrade on the previous partnership.
“They have also gone for the small-but-often approach when it comes to individual deals. They were conspicuous by their absence during Mike Ashley’s tenure.
“They are now trying to leverage as far as the brand and excitement that is associated with the club at the moment.
“Clearly, they are using their links with PIF in the MENA area for commercial arrangements,” Maguire said.
TIF Thoughts on Maguire’s comments…
It’s no surprise to hear as Newcastle are finally moving in the right direction after years of stagnation under Ashley and the Covid-affected years.
The Magpies recently embarked on a trip to Saudi Arabia where they beat Saudi league and Asia Champions League winners Al-Hilal 5-0 in a friendly, as the club’s reputation in their owner’s homeland took a huge commercial and financial boost.
Eddie Howe’s side currently sit third in the Premier League following an unbelievable run of form that saw them win seven from their final eight league games before the World Cup break.
Champions League qualification would prove a massive boost for their next financial year which would likely see the Toon continue to push boundaries under their Saudi ownership.