Newcastle United, of English men's soccer's top-tier Premier League, secured overall revenues of £320.3 million ($389.3 million) during the 2023-24 season, a 28% year-on-year rise.
The club, which last campaign competed in the group stages of the lucrative pan-European UEFA Champions League competition for the first time since 2002-03, unveiled its financial results for the 12 months up to June 30 last year, yesterday.
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The 2022-23 revenue figure for the Tyneside club only came to £250.3 million, in comparison.
Newcastle – majority-owned by Saudi Arabia's Public Investment Fund since October 2021 – also posted a post-tax loss of £11.1 million for last season, as opposed to losing £71.8 million in 2022-23.
Current Premier League profit and sustainability rules allow teams to lose up to £105 million over a three-season period. No club breached those rules in 2023-24.
In terms of the various revenue sectors, matchday income increased by 32% to £50.1 million, (helped by three home Champions League games), media rights income (including UEFA distributions) came to around £183.8 million overall, while commercial revenue rose by a substantial 90%, to £83.6 million.
One of the main commercial deals in effect last season that helped boost Newcastle's commercial takings was the club’s front-of-shirt sponsorship covering the men's first team with Saudi Arabian sport and events firm Sela (a PIF portfolio company).
That deal was reported at the time as being worth £25 million annually. GlobalData Sport (GDS) had estimated the value of the previous front-of-shirt sponsorship deal for Newcastle (with Fun88) as only £6.5 million per season.
A new kit supply deal with German sportswear giant Adidas was also announced last season, although it only came into effect at the start of 2024-25. That tie-up, running through 2025-26, has been valued by GDS at $80 million in total.
The Champions League media rights distribution came to £29.8 million, none of which had been in place the year before (Newcastle did not participate in any pan-European UEFA competition in 2022-23).
Total operating expenses for Newcastle in 2023-24, meanwhile, came to £291.5 million, up 28% from the equivalent 2022-23 figure. The club has said a rise in first-team squad costs was one of the primary factors behind this.
Darren Eales, chief executive at Newcastle, has now said: “We are committed to sustainable success and we have started 2025 in a strong position.
"Our progress has been supported by diligent work on and off the pitch. Returning to the Champions League for the first time in more than 20 years was hugely memorable for everyone connected with the club, and it has clear upside financially as we continue to grow.”
Other Premier League clubs to have recently published their 2023-24 accounts include Arsenal, and current league front-runners Liverpool.
