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4 months ago
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Great news on the Newcastle United revenues.
As since the October 2021 departure of Mike Ashley, stunning improvements on AND off the pitch.
The new/current Newcastle United owners getting so many decisions right.
To underpin everything, especially when dealing with Premier League PSR, it has never been more important how much money you bring into your club.
Basically, it you can’t grow your revenues then you can’t grow your club long-term.
Great news though on the Newcastle United revenues and how they have grown post-Ashley.
Darren Eales, the Newcastle United CEO, giving journalists an update on what the 2023/24 Newcastle United revenues will be, when the full season’s accounts are made public in the future.
The Athletic report – 18 July 2024:
‘…revenue-wise, Newcastle are also growing at a rate of around 30 per cent per year.
From £180m during the first season post-takeover (2021-22), revenue grew to £250.3m in 2022-23 and, according to Eales, they will set a new club record by surpassing £300m for 2023-24.
What’s more, Eales claims that fresh sponsorship deals are “in the pipeline” and should be “announced in the coming months”, which, alongside the Adidas kit partnership and the new STACK fanzone outside St James’, will boost income further.’
This is what we have seen these past six years at St James’ Park.
Newcastle United revenues (turnover) season by season:
2018/19 – £176m
2019/20 – £152m
2020/21 – £140m
2021/22 – £180m
2022/23 – £250m
2023/24 – £300m+
In their two full seasons so far, these Newcastle United owners have taken club revenues from the £180m of the final (2021/22) season that kicked off under Mike Ashley, to £300m+ in 2023/24.
That is an increase of more than 66 per cent in just two seasons.
The season by season turnovers above show £176m in 2018/19 and almost exactly the same (£180m) in that final season (2021/22) that kicked off under Mike Ashley. In both 2019/20 and 2020/21 the revenues were significantly hit with Covid restrictions meaning fans banned from attending matches for almost the entire 2020/21 season plus Newcastle’s final five home matches of 2019/20. Although Ashley had made a headstart on emptying St James’ Park of paying customers, forcing thousands and thousands of season ticket holders to boycott to try and get rid of him, Mike Ashley then forced into the humiliating position of having to give away 10,000+ free season tickets for the second half of that 2019/20 season.
Darren Eales obviously referencing the Adidas kit deal that has now kicked in for 2024/25, plus other commercial partners imminent, ‘in the pipeline’ states the NUFC CEO.
In every sense the club is growing, after 14+ years of having any ambition and/or growth totally blocked by Mike Ashley, as his sole purpose was for Newcastle United to be run for his own personal financial benefit and that of his retail empire.
The Newcastle United commercial revenues totally flatlined under Mike Ashley. When he left in 2021, the commercial revenues were almost identical to when Ashley bought the club in 2007. A quite remarkable ‘achievement’ considering how the Premier League saw incredible growth with all other top tier clubs seeing significant increases in their own commercial revenues.

 
