Newcastle United’s Saudi owners in town for stadium discussions
Newcastle United’s Saudi Arabian owners are on Tyneside this week to discuss the future of St James’ Park and plans for a £100m boost.
Whether the Premier League club redevelop their famous ground or build a new one in the adjacent Leazes Park remains a contentious point for the club’s ownership and fanbase.
But a contingent from Saudi Arabia’s Public Investment Fund and minority shareholders the Reuben brothers will be in the north east this week to discuss a number of commercial plans for the club, including the stadium.
“Today and for the next three days in Newcastle,” club chief executive David Hopkinson told SportPro London, “we have our owners in, a delegation from Saudi Arabia, and the Reuben family coming in to talk about the choices and tradeoffs we need to make to seize the opportunity before us.
“We are considering what to do with our stadium, whether that’s a significant renovation or a brand-new stadium. We need more capacity to drive revenue.
“Our training ground is very good, but not as good as others, and if we’re going to have a world-class ambition, we need world-class infrastructure.”
Newcastle United stadium development
It is part of a plan, according to former Madison Square Garden and Real Madrid commercial chief Hopkinson, to increase club revenues by £100m per season towards £450m of annual income.
The club’s training ground has been renamed The Knox as part of a deal with a soft drink firm as the club looks to build on the 44 per cent commercial revenue growth of £120m enjoyed last season.
Hopkinson revealed plans to compete for both the Premier League and WSL titles by the end of the decade, with revenue generation key to complying with the Premier League’s incoming squad cost ratio rules.
“We don’t have a car sponsor today; we should have one,” he added. “We don’t have an insurance sponsor today; we should have one. The training ground didn’t have naming rights; it does now.
“Stadium naming rights, expanding our digital audience, all of that can unlock revenue. If we execute superbly, there might be £100m in annual run-rate revenue that could be unlocked.”