Stefan Borson
Fri 14 March 2025 7:00, UK
Newcastle United have faced issues complying with the Premier League’s spending rules over the past couple of years.
The Tyneside club were forced to sell Yankuba Minteh and Elliot Anderson to Brighton and Nottingham Forest last summer to avoid breaching the profit and sustainability rules (PSR).
Football Insider revealed last July Newcastle and Nottingham Forest could face an investigation after Odysseas Vlachodimos moved to St James’ Park as part of the Anderson deal.
Newcastle’s accounts for 2023-24 revealed they had to make £30million of adjustments in their Uefa submissions following their transfer business.
Finance expert Stefan Borson exclusively told Football Insider that is something we have “never seen before”.
Newcastle smashed their club-record revenue in 2023-24 after their overall turnover surged from £250million to £320million.
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Their commercial revenue improved from £47million in 2022-23 to £86million last season following their lucrative deals with Sela, Noon and Adidas.
The north-east giants’ broadcast revenue rose from £165million to £184million, while their matchday income increased from £38million to £50million after featuring in the group stages of the Champions League.
Their losses before tax fell dramatically from £72million in 2022-23 to £11million last season, with top-flight clubs only permitted to make £105million of losses over a rolling three-year period.
Eddie Howe at Newcastle United
(Credit: Imago)
Newcastle forced to adjust Allan Saint-Maximin fee
Borson revealed Newcastle also had to make further adjustments following Allan Saint-Maximin’s £23million move to Al-Ahli.
He told Football Insider: “The overall £320million was probably a little bit higher than we’d imagine it was going to be.
“I think most people thought it was going to be around £300million, so £320million is great.
“There were some interesting notes in there about Uefa adjustments. We’ve never seen it before.
“They disclosed in quite some detail the adjustments they needed to make in their Uefa submissions, which effectively mean that they have to discount a lot of player trades that they did before the end of June.
“The trade with Nottingham Forest, they needed to make adjustments there in terms of Vlachodimos and Anderson.
“That was adjusted down for Uefa submissions, totaling about £30million of adjustments. That’s quite a lot.
“They also had to adjust some of the Saint-Maximin deal with Saudi.”
Financial Year Newcastle Revenue
2023-24 £320m
2022-23 £250m
2021-22 £180m
2020-21 £140m
2019-20 £153m
Newcastle’s revenue has increased dramatically over the past five years
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Borson previously told Football Insider Newcastle must generate more than £500million in revenue a season to compete at the top of the Premier League.
They remain significantly down on Manchester City’s numbers after the English champions posted a Premier League record revenue of £715million and a £413million wage bill for 2023-24.
Newcastle could land a £100million windfall if they qualify for the Champions League and compete well in the competition next season.
Eddie Howe’s side currently sit sixth in the Premier League table, two points behind fourth-place Chelsea after 28 matches.
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