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10 months ago
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Thursday afternoon saw the Newcastle United 2022/23 accounts made public, the figures showing a substantial increase in Newcastle United turnover.
The overall revenues coming into the club a big difference compared to 2021/22.
The official release (see below) from the club revealing the Newcastle United turnover had increased from £180m to £250.3m.
This Newcastle United turnover increase is for the 2022/23 season remember, so doesn’t include the benefit of factors such as Champions League football revenues, nor the increased Sela shirt sponsorship deal that will lift the 2023/24 season figures when published in the future for the current season.
Nor of course the upcoming Adidas deal that will be active as from this summer.
Interesting though to see how this newly released Newcastle United turnover figure for 2022/23, compares to the other Premier League clubs.
Football finance expert Kieran Maguire has compared the Newcastle United turnover to the latest available accounts of other PL clubs (some having since been relegated).
Kieran declaring ‘Newcastle still behind the ‘Big Six’ but have overtaken the rest of other PL clubs. FFP looks okay but little room for signings.’
Listing those top turnovers for Premier League clubs via their most recently published accounts:
£713m Man City
£648m Man U
£594m Liverpool
£481m Chelsea
£444m Spurs
£372m Arsenal
£250m Newcastle United
£237m West Ham
As you can see, despite a 39% (£70m) rise in the Newcastle United turnover putting NUFC ahead of ‘the rest’, as Kieran Maguire points out, still a serious gap to make up on the six others.
Club make public the Newcastle United 2022/23 accounts – 11 January 2024:
Newcastle United Limited (Newcastle United) has filed its financial results for the 2022/23 financial year, which showed a 39% increase in revenues.
The improved financial performance reflects progress both on and off the pitch since the acquisition of the club by the PIF-led ownership group in October 2021.
A loss after tax of £73.4m was reported by Newcastle United for the 12 months ending 30 June 2023, in line with the club’s prior year financial performance. This was driven mostly by the continued investment in the playing squad.
The club increased its revenues to £250.3m from £180m the previous year, as match day, commercial and media rights revenues all increased.
The financial performance was supported by the club’s successful season on the pitch, with the club reaching its first major cup final in 24 years and achieving a fourth-place finish in the Premier League to secure qualification for the UEFA Champions League.
Since the end of the accounting period, the ownership group has injected additional capital into the club to improve the financial position of the business. This additional funding aligns with PIF’s approach as a long-term investor.
Darren Eales, Chief Executive Officer of Newcastle United, said: “Newcastle United has had a very successful year both on and off the pitch.
“We grew revenues by 39%, with an increase in TV money, improved sponsorship deals and a sharper focus on everything we are doing across the club.
“We continue to make progress each day as we strengthen the foundations of the long-term project that we are developing here at the club.”
Newcastle United’s accounts for the 12 months ending 30 June 2023 can be found here.’

 
