- Newcastle United to release PSR funds after Mike Ashley clanger and Callum Wilson injury lifeline
Newcastle United fans discovered this week that the club are about to announce a revenue pile of around £314million when the next set of accounts are released.
And while Newcastle may well still be some way behind some of the big guns like Man City, who made £715m in commercial gains and off field prize money, or Real Madrid who hit a cool €1.1billion in revenue this week according to the 2023/24 Deloitte Football Money League, the future looks bright on Tyneside.
One of the biggest takeaways from this week’s Money League rankings was that Newcastle had somehow managed to slip out of the big time completely under Mike Ashley. Only two weeks ago, Newcastle banked £1million from the sale of the 1995-1997 Adidas reissue, with the kit still doing a roaring trade. Ashley opted to chase the German giants away from St James’ Park in 2010 and replace them with Puma. However, the ability to miss open goals commercially has never been exposed more than post-takeover on Gallowgate.
‘We didn’t see a goal coming’ | Eddie Howe reacts to Newcastle’s Carabao Cup…
Since the Saudi backers PIF came into United, they have slowly climbed back into Europe’s elite club list. They were 28th in 2022 before jumping up to the top 20 a year later. In 2024’s edition, they now sit 15th, just behind Inter Milan, AC Milan, and Borussia Dortmund. Despite Ashley being classed as a elite businessman thanks to his Sports Direct empire, he opted to close the club’s operations down at the St James’ Park merchandise store and hand the key over to Castore.
The land in which the profit-making machine that is the new STACK fan zone sits on was also sold by Ashley before the current custodians bought the land back. Since the takeover, Newcastle have beefed up their commercial work force with department supremo Peter Silverstone overseeing the operation.The results are there for all to see with a revenue gain of £314.4m now up from £140m in 2022. As Newcastle fans see the rise of the club, it’s worth going back to Silverstone’s quotes to Chronicle Live back in August when he said: “It is not going to happen overnight. Maybe it is a better question for Darren Eales on the realisation of ambition and timeline. We are playing catch up that’s for sure.”
Be the first to comment