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New Saudi deal connects Leeds United and Newcastle United in £2.5bn network
Two giants of English football, Leeds United and Newcastle United, may be in different divisions but they now have a shared financial interest.
Leeds and Newcastle both had mixed summers ahead of 2024-25, with Newcastle supporters frustrated by a lack of high-quality new signings and Leeds by the mass exodus of their top talents.
Both clubs’ situations are a result of Profit and Sustainability Rules (PSR), which limit Premier League clubs to losing a maximum of £105m and EFL clubs a maximum of £41.5m over a rolling three-year period.
Essentially, the only way to be able to spend more is to earn more.
For Newcastle, the battle to unlock and expand new revenue streams has arguably been prioritised as much by the Saudi Public Investment Fund as results on the pitch.
The strategy is starting to bear fruit. Newcastle’s commercial income was £47m at the last count and is expected to have hit around £80m by the time they release their next set of accounts.
Similarly, Leeds have commercial income in the Championship that is the envy of most Premier League clubs.
We don’t have access to their 2023-24 accounts, but they are expected to present income from sponsorship, merchandise and events of nearly £40m.
And Leeds’ most high-profile commercial deal is now the subject of a link with Newcastle.
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Both Newcastle and Leeds have undergone high-profile takeovers in recent years, by PIF and the investment arm of the NFL franchise San Francisco 49ers respectively.
Both clubs also have minority partners. For Newcastle, it is the Reuben Brothers. For Leeds, it is energy drinks titans Red Bull.
The Austrian company bought a minority stake in the West Yorkshire club over the summer, with Red Bull later paying Leeds a Championship-record sum for their front-of-shirt sponsorship rights.
Now, Newcastle have a new alliance with Red Bull that will see them become the club’s official energy drinks partner.
Significantly, the Newcastle deal comes after Red Bull announced a commercial link-up with PIF-owned Al-Hilal.
The Saudi Pro League side, Leeds and Newcastle are now all part of a Red Bull network that spends per year on marketing alone.
Red Bull’s ambitions in Leeds, Newcastle and beyond
Red Bull also recently purchased a team in Japan, meaning they now have stakes in seven teams in total.
And while Leeds are likely exempt from taking on the ‘Red Bull’ prefix and colours because of their history and heritage, the company’s ambitions at Elland Road are the same as they are elsewhere.
Brand exposure is the name of the game, and that is why they have chosen to associate themselves with a Premier League side in Newcastle.
TBR Football understands that Newcastle’s previous energy drinks partnership with Monster was worth approximately £2m per year and that the Red Bull deal represents an upswing.