Newcastle United has reported a significant financial upturn, with revenue climbing to £320 million ($406.88 million) for the financial year ending June 2024—a 28% increase from £250 million
in 2023. The surge was largely fueled by the club’s return to the Champions League.
Since being acquired by Saudi Arabia’s Public Investment Fund (PIF) in 2021, Newcastle has seen its commercial income nearly double, rising 90% from £43.9 million to £83.6 million. This growth was driven by lucrative sponsorships with Saudi brands Sela and Noon, along with global deals involving Adidas and UK retailer Fenwick.
Despite being knocked out in the Champions League group stage, Newcastle earned close to £30 million in tournament distributions.
“Returning to the Champions League for the first time in more than 20 years was a monumental moment for the club, and it has provided a financial boost as we continue to build for the future,” said Newcastle United CEO Darren Eales. “We are committed to long-term sustainability and are entering 2025 in a strong position.”
The club’s financial boost was also aided by the Amazon Prime documentary We Are Newcastle United and improvements in retail and catering operations.
Moreover, Newcastle significantly slashed its after-tax losses by 84%, from £71.8 million in 2023 to just £11.1 million in 2024. The club’s efforts to manage spending and comply with Premier League sustainability rules followed a heavy investment year in 2023.
On the pitch, Newcastle is battling for a top-four finish to secure a Champions League return. Currently sitting sixth, they trail fourth-placed Manchester City by three points and are 23 behind league leaders Liverpool.
Looking ahead, Newcastle will face League Cup holders Liverpool in the final on March 16. However, their FA Cup journey ended in a dramatic 2-1 quarter-final defeat to Brighton & Hove Albion on Sunday. Photo by Ardfern, Wikimedia commons.