Breaking News: Newcastle United line up new lucrative sponsorship deal after £10m PIF investment

Newcastle United is actively seeking a sponsor for its training kit to further bolster its revenue streams, following a successful financial year in 2022-23. The club’s accounts revealed a notable 39% increase in revenue, reaching £250 million, with CEO Darren Eales describing it as a triumphant year both on and off the field. Despite the positive results, Eales emphasized the need to catch up with the financial prowess of the Premier League’s top six teams.

Eales highlighted significant year-on-year growth of 40% since the takeover, attributing it to various factors such as the Sela front-of-shirt deal, Champions League revenue, and the upcoming partnership with Adidas in June. The latter is expected to bring a substantial boost as it allows the club to control its retail and merchandise operations. Eales acknowledged the growing interest from commercial partners due to improved on-field performances, characterizing it as a positive momentum.

While expressing excitement about the club’s trajectory, Eales acknowledged the substantial gap in financial standing compared to top rivals like Manchester City and Tottenham Hotspur. To address this, Newcastle is exploring avenues to maximize revenue, with a training kit sponsor being a viable option. However, Eales clarified that selling the naming rights of St James’ Park is not currently under consideration.

Regarding the potential construction of a new state-of-the-art training center, Eales described it as an ongoing process. The ownership has invested over £10 million in the existing Benton facility, showcasing their commitment to supporting the team both short-term and in the future. Eales acknowledged that decisions about the training ground and potential moves would involve transparent discussions with supporters, highlighting the ownership’s dedication to navigating financial regulations while providing necessary resources for the team’s success.