Wednesday briefing: Newcastle record first PIF-era profit on back of £133m intragroup stadium deal

Newcastle United’s 2024/25 accounts show the club sold St James’ Park and adjacent assets to a company controlled by their own shareholders, contributing to a pre-tax profit of £34.7 million.

The transactions generated £176.2 million in proceeds and an accounting gain of £133.1 million, according to the club’s financial results. Without these intragroup sales, Newcastle would have reported a £98.4 million loss for the period.

The purchasing entity, PZ Newco Holdings Limited, is