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Newcastle United set to make record £179m-plus announcement

Newcastle United’s feel-good start to the season is set to continue as the Magpies have registered club-record revenue for the 2021-22 financial year. 

In their first post-pandemic season, the Tyneside club are set to announce a turnover that surpasses the £178.5m they recorded in 2017-18.

However, the club’s heavy spending in the transfer market following the Saudi Public Investment Fund’s takeover in October last year has led to an increase in amortisation and that means the club is forecasted to present a total loss approaching £50m.

This spending has been justified through Eddie Howe’s side’s start to the season, as the Magpies sit third in the Premier League table and results like this will increase the club’s fanbase, which leads to more money.

The reason for breaking the record is said to be a result of an increase in matchday income and an upswing in both commercial and broadcasting revenue reports Football Insider.

This won’t be the last time Newcastle break this record as the Tyneside club are only getting started on their journey to the top of the European game.

The post Newcastle United set to make record £179m-plus announcement appeared first on CaughtOffside.

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