Financial Forecast 2023/24: Newcastle set for first profit in five years
IMAGO | Newcastle United players celebrating Jacob Murphy's 4-0 goal against Leicester City at St. James Park.
Newcastle United returned to the Champions League in 2023/24 for the first time in over 20 years, after securing a top-four finish in the Premier League during the previous season.
Off The Pitch’s financial forecast for 2023/24 predicts a record turnover for the club, driven by their significantly improved Premier League performance.
Why it matters: Since the Saudi Public Investment Fund took over in 2021, expectations have been sky-high. While the club is now set to report a profit, results on the pitch have begun to decline.
The perspective: Under Mike Ashley’s ownership, the club prioritised financial prudence, often reporting profits but consistently underperforming on the pitch. Now the risk of repeating a similar pattern is beginningis beginning to emerge.
16 December 2024 - 11:19 AM
In recent years, Newcastle United have become one of football's compelling stories, transforming from a club battling mediocrity to one challenging the elite. With substantial investments following their Saudi-led takeover, the club achieved a top-four Premier League finish, earning a return to the UEFA Champions League.
However, the glory has proven fleeting. Their Champions League campaign was underwhelming, failing to match the promise of
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