Newcastle United CEO Darren Eales has commented on the club’s continuous efforts to become a ‘world-class, sustainable organisation’ in the future years.
Speaking at an inaugural meeting between club officials and the Fan Advisory Board (FAB) on February 26th, 2024, Eales revealed that we hope to build a’results-driven’ club that consistently achieves top-six finishes and wins major trophies over the next five years, with the men’s and women’s teams working together to accomplish this goal.
“We’re going to build a results-driven, world-class, sustainable organisation that consistently achieves top-six status for men’s and women’s teams and wins major trophies, within the next five years” he stated.
He then reviewed the revenue growth over the last two seasons, the significant gap we must close between ourselves and the ‘big six’, and the club’s ‘priority’ of remaining at St James’ Park while we await the findings of current feasibility tests:
“The club’s revenue rise over the previous two seasons and into this season has been fantastic. Off the pitch, because we started with a poor revenue base, we are still far behind the Premier League’s top six. Because we can only spend a percentage of our revenue, we always aim to spend as much as possible on the team while adhering to Profit and Sustainability Rules (PSR).
“This means it is vital that we look at ways to raise revenue streams, whether through matchday, St.James’ STACK, commercial partnerships, retail/merchandise, tours, hospitality and events.”
“The priority is to continue at St. James’ Park, but we understand that development presents obstacles. So we hired experts to determine what is viable in terms of engineering and finance.”
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