Considering Newcastle’s Saudi ownership’s focus on their resolve to overcome the challenges of Premier League spending rules, Alexander Isak will likely remain with the team this summer.
Newcastle CEO Darren Eales said the club’s progress was greatly impeded by sustainability and profitability regulations. These regulations allow teams to report losses of up to £105 million over three years, as he presented a generally good set of 2023–24 financial statements.
Long-standing elite clubs with the biggest commercial revenue sources and frequently ideal geographic locations are favored by this. Even if they are controlled by Saudi Arabia’s Public Investment Fund, a more remote competitor located in a poor area, like the northeast, may find it difficult to catch up.
According to Eales, who is “doing well” and working an extended notice period following a blood cancer diagnosis, “PSR is supposed to be about sustainability, but it’s a system that favors those with bigger revenues.” “With the current regulations, we must grow gradually, but we could invest money in an additional account that would demonstrate we wouldn’t fail.
We’re two points away from a Champions League spot and in our second Carabao Cup final in three years, which indicates that we’re improving. However, it’s frustrating because we could have made more progress since our takeover [in October 2021] if circumstances had been different. PSR is difficult in its current version.
While not signing any regular first-team players in the last three transfer windows, Newcastle appears to be in a position to rebuild the team after overall losses decreased from £71.8 million to £11.1 million in the 12-month accounting period ending June 30, 2024.
The main cause of that decline was a 28% rise in revenue, or £320 million. Given that Manchester City commands more than twice that amount, Newcastle is aware that they will most likely need to relocate to a new stadium or rebuild St. James’ Park in order to compete effectively with City, Liverpool, Arsenal, Tottenham, and others. Both options are being carefully considered by the Saudis, and a decision is anticipated soon.
According to Eales, this growth would allow the team to try to get corporate supporters to travel to the northeast on game days. In addition to helping to lower the cost of some tickets, it would increase our fan base and allow us to offer the kind of hospitality that would attract more visitors from London for that upscale market, he stated.
Unofficial rumors state that PIF is purchasing a 49% share in Newcastle Airport, and Eales views that as a method to attract new supporters. “It would benefit everyone if Newcastle Airport could expand. The club benefits from anything that aids this area, and in turn. More employment and investment can be generated in Newcastle the more we can promote the city. We are aware that Newcastle United serves as a symbol of the city and the area.
In order to keep Isak, Sandro Tonali, Bruno Guimarães, and the rest of their top players, he hopes the team will also attract top talents.
Eales said that Newcastle will be constructing a training facility at an unnamed location, saying, “We’re not under pressure to sell any of our key players – it would be crazy to consider it.” “All of them have long-term contracts.”
He also stated that talks about a contract extension with Alexander Isak would begin in the summer. He remarked, “We know Alexander Isak is a world-class player and others covet him.” However, it irritates me because it seems like we’re viewed as a team in a lower division and it’s acceptable to discuss our players leaving.
Several Champions League matches could change people’s opinions. “Next season, we hope to be in Europe,” Eales stated. That’s our goal; it provides us with the income and visibility. We would also love to take home a prize. Our goal is to sit at the top table. The future is bright because Eddie [Howe] is an excellent coach.
However, given that Eales refused to commit to freeze season ticket prices, it might be pricey for some fans. It’s a balancing act since we’re attempting to compete with teams who make far more money. Although we are conscious of our position in the nation, we nevertheless wish to provide Eddie with the tools he needs to compete.
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