Newcastle United recently released their financial accounts for the year ending June 30 2024.
It’s fairly positive news for the Magpies who have seen plenty of growth in the commercial department.
Newcastle United recorded a turnover of £320m for the 2023/24 year, more than CEO Darren Eales predicted last summer.
The commercial department was something that the previous owner Mike Ashley neglected during his 14 years at the club, despite plastering St James’ Park with Sports Direct advertisements and even naming the stadium the ‘Sports Direct Arena’ at one point.
Thankfully, the PIF have been fully focused on increasing Newcastle’s commercial revenue and are doing everything they can to compete with the Premier League’s big six in the future. Newcastle recorded a loss of £11m last year, decreasing from over £70m the year before.
A lot of revenue came from Newcastle’s participation in the Champions League, but the recent Adidas kit supplier deal and St James’ STACK are believed to make up for the £30m they lost by missing out on European football.
With Newcastle looking good for the future, Eales has sent a clear message to supporters who may feel worse for wear after recent news.
Photo by Serena Taylor/Newcastle United via Getty Images
Photo by Serena Taylor/Newcastle United via Getty Images
Darren Eales sends passionate message to Newcastle fans
This week has been rather grim for Newcastle fans, with the announcement that Sven Botman and Lewis Hall will miss the Carabao Cup final through injury. The pair need surgery for respective knee and ankle injuries.
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Eales faced the press earlier this week to answer questions regarding the summer transfer window, a new stadium and the PIF’s devotion to the club.
PIF are fully committed to Newcastle, according to Eales who also claimed that a decision on a new stadium is coming ‘soon’. Dominic Scurr asked Eales asked why Newcastle fans should continue spending their hard-earned money on going to games – the CEO saw it as a perfect time to throw a subtle dig towards Ashley.
“Well, I’d say this season’s been a good season,” Eales said.
“We’ve equalled our record number of consecutive wins in the top flight with nine.
“We’ve obviously got a final coming up on the 16th of March, so that’s our second final in three years when we haven’t made one in over 20 years. We’re disappointed in getting knocked out of the FA Cup.
“I think every season under Eddie, we’ve gone on a cup run – it’s been really impressive. You can see it when the player that we have out on the pitch, whether it’s Sandro Tonali or whoever.
“Being frank, compared to pre-takeover, I think it’s night and day. So, I think from that perspective, we’re on our journey.”
Newcastle didn’t bring any first-team players in during the January transfer window but opted to lose Lloyd Kelly and Miguel Almiron. The decision to loan Kelly to Juventus has been a particular blow, with the Magpies now lacking in the left side of defence.
“I get it, it’s football from match week to match week there’s ups and downs and there’s highs and lows,” he added.
“But if you look at the trend and you look at the squad that we’ve got in terms of this season and the players we’ve got in key positions, it speaks for itself.
“We’ve got an amazing manager in Eddie, who’s done remarkable since he joined the club. So, from my perspective, I’d say it’s really positive.
“And I think you’re right, though, there’s always going to be a balance because that’s the nature of when we’re looking at things. But I do think, you know compared to the days when we had to give away season tickets for people to come and watch the team, it is chalk and cheese.”
Newcastle can still be successful this season
As Eales said, the 2024/25 campaign has been full of highs and lows. However, by no means does that rule the season off entirely.
The Magpies are still going to Wembley, albeit with a weaker squad than fans would have liked. There is still hope that Newcastle’s trophy drought will be ended this season. Fans experienced heartbreak in 2023, but Eddie Howe is adamant Newcastle have from the loss to Manchester United.
Things are still going well in the Premier League for the Magpies, despite a recent drop-off in form. Newcastle are currently sixth in the Premier League, just three points off the top four.
A boost for Howe is that a fifth-place finish could still be enough for a return to Europe’s top competition thanks to the UEFA’s coefficient rules and other English sides performing well.
There were injury concerns for Alexander Isak after he went off during Newcastle’s defeat to Brighton on Sunday. Howe confirmed it was more fatigue than anything for the Swede who spoke to the press on Wednesday ahead of the trip to the capital later in March and was believed to be in good spirits and had no sign of any injury problems.