Newcastle United line up new lucrative sponsorship deal after £10m PIF investment

Newcastle United are on the look out for a training kit sponsor as they seek additional ways to increase its revenue streams.

The Magpies announced its accounts for the 2022-23 financial year last week, which showed a 39% increase in revenue while the club's turnover reached £250million. CEO Darren Eales said it was a "very successful year both on and off the pitch" but warned there is still plenty of ground to make up on the Premier League top six.

Eales told reporters: "40% year-on-year growth since the takeover, it’s vast year-on-year growth.

"We have got the positive tailwinds of Sela front of shirt, Champions League money, Adidas coming in June which will be a big jump for us as we can control our own retail and merchandise which hasn’t been the case before.

"The reality is that with the performances we have had on the pitch and the buzz around the club we are seeing more and more commercial partners wanting to become part of this journey. It’s a snowball going down a hill. As we are doing better on the pitch it is helping us with commercial partnerships.

"We are excited about the trajectory but we have still got grounds to make up. £710m at Man City, Spurs £444m in their last accounts, so we know we have got lots to do."

As a result, Newcastle will continue to try and maximise its revenue streams. Eales confirmed a training kit sponsor is one strong possibility, however ruled out selling the St James' Park naming rights, for now.

“Training kit (sponsor) is something we’re looking to bring in," said Eales. "Wherever we’ve got assets that are available it’s something we’ll look to do.

"Stadium is a different one, we’d have to talk to supporters and we’re very sensitive in respect to that. It’s something we’d need more dialogue with our supporters on, we’d be open and transparent on that if there’s a chance of revenue but if we did that it might have to be ‘St James’ Park powered by a company’.

"That one I wouldn’t say is front of mind but certainly training ground, training kit is something we’d look at in the future to try and develop those commercial partnerships.”

Eales was also questioned on plans to build a new state-of-the-art training centre with suggestions it could be based in Gosforth. However, the former Atalanta United chief says it is an "ongoing process".

He said: "We have been transparent since the takeover. We will always look at options and whether or not there is a potential to move elsewhere. 

"That is always an ongoing process. What I would credit the ownership with, is over £10million investment now (at Benton) to help the club short-term. We saw it in the summer.

"That speaks to the level of commitment of the ownership and their way to look within in the FFP regulations and look to help the team and put that in. Of course, when you are investing in the training ground that is capital expenditure outside the PSR regime.

"It's another example of what the owners are giving to Dan [Ashworth] and Eddie [Howe] to help them both. We are looking medium to long-term but if they want help short-term they are able to do that."