Newcastle United could make up to £40M by renaming St James’ Park
Newcastle United could make up to £40M by renaming St James’ Park, according to football finance expert Kieran Maguire of Six Sports.
It is fairly typical for Premier League teams to sell naming rights for their stadiums to generate additional cash in today’s world. This, however, will not be the first time St James’ Park has been renamed.
Mike Ashley, the previous owner, surrendered the rights to call the stadium Sports Direct Arena almost a decade ago.
Mike Ashley’s connection with the supporters was further strained as a result of this action.
This was only one of many irritants for Newcastle supporters throughout Mike Ashley’s tenure.
However, if the stadium rights are sold, there is a chance that a similar issue may arise.
It’s quite improbable, given the new Newcastle United owners’ current popularity with the supporters.
The new owners have shown a strong ambition to return the team to the Premier League and Europe’s top flight.
Newcastle United was the most expensive club in the January transfer window. In the January transfer window, they spent almost £90 million.
The Magpies signed a slew of new players, including Atletico Madrid’s Kieran Trippier and Burnley’s Chris Wood.
They also added Lyon’s Bruno Guimaraes, Aston Villa’s Matt Targett on loan, and Brighton & Hove Albion’s Dan Burn.
Newcastle’s investment in the team has helped them avoid relegation at the end of the season.
Newcastle United has won three games in a row in the Premier League.
The team is presently 17th in the league rankings, narrowly above the relegation zone.
According to reports, the club’s owners are planning to invest a large quantity of money in the summer.
Kieran Maguire’s take on Newcastle United possibly renaming St James’ Park Maguire feels the club might earn upwards of £4 million per year if a deal can be reached with any possible partner.
In an interview with Football Insider, he said about Newcastle United:
“The stock of PIF is extremely high,” says the source.
“Of course, the fact that they’ve recently won three in a row helps.
“The fanbase’s initial reaction would be that it isn’t ideal.” However, it will continue to be known as St James’ Park. It’s a little price to pay.
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