'It's True' - Stefan Borson drops strong verdict after Newcastle chief's '£300m' reveal

Newcastle United will not be able to double their overall revenue if they were to build a new stadium despite a club chief suggesting that is a realistic ambition.

That is the view of finance expert Stefan Borson, who exclusively told Football Insider the Tyneside club could potentially double their matchday revenue if they were to make the move.

Newcastle are currently considering plans to either build a new stadium or expand St James’ Park, which has been their home since 1892.

Speaking to supporters at an event on 20 November, chief operating officer Brad Miller said (via ChronicleLive) the club could earn double their revenue if they were to move to a new stadium.

The Tyneside club’s latest published accounts showed their revenue rose to £250.3million for 2022-23, while CEO Darren Eales confirmed in July he expects the figure to have reached a club-record high last season by surpassing £300million.

Newcastle’s matchday revenue stood at £37.9million for 2022-23.

Newcastle could double matchday revenue with stadium move

“It’s not quite right that they could double their revenue, that’s for sure,” Borson told Football Insider.

“But for a club of their size, Newcastle have one of the lowest levels of matchday income around despite having 52,000. Their matchday revenue for 2022-23 was only £38million.

“When you compare that matchday to the London clubs it’s miles behind, so that’s really their key challenge. But the thing is it’s not just about seats.

“Their £37.9million for 2022-23 was actually already a very major increase on 2021-22, which had been a record year for Newcastle.

“The big issue is if you were to compare their figures, they are half of Man City and almost a quarter of Man United on matchday.

“I think it’s true to say they could double their matchday revenue, but I don’t believe they are going to be able to double the whole revenue by the stadium.

“Their whole revenue this year was let’s say about £300million, so they are not going to add £300million from the new stadium.

“If it was another additional 30,000 seats and they could charge an average of £50, that’s only £1.5million per game, so you are not going to get to anywhere near £300million.

“People talk about this stuff and exaggerate the value of additional seats, and they also discount the very real issue when you are building a new stadium in the way it’s been described of the cost of building the stadium.”

In other news, Newcastle owners bankroll £35m injection – official documents reveal.

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