Skip to main content

No final decision on Newcastle stadium

Newcastle United hope to reach a “decision stage” in their long-term stadium plans by “early” next year after completing the first phase of their feasibility study into expanding St James’ Park.  The club commissioned an in-depth report into the possibilities of extending the present ground — which is the preferred option of many inside the club, including Eddie Howe, the head coach — and alternative sites for a new purpose-built stadium have also been explored.

While no final decision has been reached, Newcastle insist they are “several steps forward” in understanding what is deliverable and, although there are opportunities associated with staying at St James’, there are also “several risks”.

Expanding St James’ Park’s capacity beyond its present 52,300 is expected to cost hundreds of millions. The East Stand has listed buildings directly behind it on Leazes Terrace, while the Gallowgate End also backs on to Strawberry Place, a through-road, and has an underground line below it.

But Newcastle recognise that there is a keen demand for tickets, plus increased matchday revenue would significantly aid their position when it comes to the Premier League’s profit and sustainability rules (PSR), and so merely continuing with the present capacity is not an option.

This is not the conclusive update supporters keenly desire — fans are desperate to know whether Newcastle will remain at St James’ Park or be forced to move elsewhere in search of greater capacity — and it does not confirm potential costings or whether Saudi Arabia’s Public Investment Fund (PIF), the club’s 85 per cent majority owners, will provide the funding to deliver it.

However, the reality is that Newcastle are just not yet ready to confirm their plans. Expanding St James’ Park is extremely tricky and will be very expensive, given most of the stadium needs updating, so understandably the key decision-makers want to have as much information as possible before committing to the rebuild.

One possible solution is to build a new ground within Leases Park.

Labels:

Comments

Post a Comment

Popular posts from this blog

Threat of financial calamity removed from Baggies

West Bromwich Albion had effectively been in decline ever since the club was sold to a Chinese consortium in August 2016, paying a figure north of £200m to buy former owner Jeremy Peace’s stake. Controlling shareholder Guochuan Lai’s ownership was fairly disastrous for the club, but his unloved tenure finally came to an end after Bilkul Football WBA, a company ultimately owned by Florida-based entrepreneur Shilen Patel and his father Dr Kiran Patel, acquired an 87.8% shareholding in West Bromwich Albion Group Limited, the parent company of West Bromwich Albion Football Club. This change in ownership was urgently required, due to the numerous financial problems facing West Brom, including growing high-interest debt and serious cash flow concerns, following years of no investment from the former owner. Indeed, West Brom’s auditors had already rung the alarm bell in the 2021/22 accounts when they cast doubt on the club’s ability to continue as a going concern without making player s...
1 comment
Read more

Gold standard ground boosts Tottenham's income

The gold standard in European football grounds is the Tottenham Hotspur stadium in north London, a £1bn construction project completed in 2019. Its impact on the club’s finances has become increasingly clear as the effects of the pandemic have faded. Previously, the average fan would spend less than £2 inside the ground on a typical match day, but now that figure is about £16, thanks to new facilities including the longest bar in Europe and an on-site microbrewery. Capacity has gone up from 36,000 at the club’s previous home of White Hart Lane to 62,000.  The new stadium — built on land adjacent to White Hart Lane — has opened the door to a broad range of other events that have helped to push commercial income up from €117mn in 2018 to €215mn in 2022. Last year, Tottenham hosted US singer Beyoncé for five nights on her global Renaissance tour, two NFL matches, as well as rugby games and heavyweight boxing bouts.  Money brought in from football has gone up too. Match day ...
Post a Comment
Read more

Spurs to sell minority stake

Tottenham Hotspur is in talks to sell a minority stake in a deal that could value it at up to £3.75 billion and pave the way for Joe Lewis and his family to sever ties with the Premier League football club. Tottenham chairman Daniel Levy is seeking an investment that values the club at between £3.5 billion and £3.75 billion, including debt. While the terms of any deal have not been finalised, City sources expect Spurs to sell about 10 per cent. The club is being advised by bankers from Rothschild on the sale. Tottenham wants to raise fresh capital for new player signings and to help fund the development of an academy for its women’s team, as well as a 30-storey hotel next to its north London stadium. The financier Amanda Staveley, who brokered the deal for Saudi Arabia’s Public Investment Fund to take over Newcastle United, is understood to be among the parties to have expressed an interest in Tottenham. Staveley’s fund, PCP Capital Partners, has raised about £500 million to ...
Post a Comment
Read more