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News
PIF unveil £48bn stadium plan as Newcastle get major St James’ Park expansion clue
Newcastle United have received a major clue about the future of St James’ Park amid confirmed plans to expand the historic ground.
St James’ Park has been Newcastle’s ho𒀰me since 1892, undergoing t🔯hree major renovations in that time.
The latest, which took place between 1998 and 2000, saw capacity at the stadium climb to 52,350, making it the seventh-largest stadium in th🗹e Premier League today.
But since the Saudi Public Investment Fund‘s £305m takeover in October 2021, there has been constant talk of lifting that capacity – or potentially movi♎ng to a new home altogether.
While Newcastle fans naturally have an affinity to the gr♒ound in its cu💦rrent form, the benefits of a revamp are obvious.
Improved matchday income and the associated commercial benefits would allow Newcastle to spend more under Premier League Profitᩚᩚᩚᩚᩚᩚᩚᩚᩚ𒀱ᩚᩚᩚ and Sustainability Rules.
Earlier this week in a rare media appearance for a Premier League chief, Newcastle CEO Darren Eales revealed 💜that the club are still awaiting the results of ✱a feasibility study regarding St James’ Park’s future.
And thanks t𝓰o an even more recent update, Newcastle fans have got a clue about what sort of stad𓂃ium PIF might want to construct on Tyneside.
Saudi stadium plan hints at Newcastle ambitions
As they are runninܫg unopposed, Saudi Arabia are set to host the World Cup in 2034, making them the second Gulf nation to do so after Qa🥂tar in 2022.
Like Qata💞r, Sꦐaudi will spend billions of petrodollars on new infrastructure to facilitate a landmark moment in their history.
In the latest news, as relayed by , PIF have now unveiled the blueprint for one of the stadiums set to stage matches in 2034, the Murabba Stadium in▨ downtown Riyadh.
The arena is set to open in 2ℱ032 and is part of a regeneration project in Murabba which is predicted t♐o add £48bn to the national economy.
The striking development is inspired by Acacia tree ༒and will host both sp๊orts and entertainment events.
🌠The futuristic stadium further illustrates what PIF value in a capital ex꧑penditure project.
Any redevelopment of St J🉐ames’ Park is also expected to enable the club to host more non-football events.
And, like the Murabba Stadium, redevelopment of the 132-year-old stadium will also include amenities to enable fans to sᩚᩚᩚᩚᩚᩚᩚᩚᩚ𒀱ᩚᩚᩚpend more time at the gr🦩ound beyond 90 minutes.
Think: fan zones, restaurants, retail ou𒀰t🅠lets and events spaces.
- READ MORE NEWCASTLE FINANCE NEWS: Newcastle could get official Miguel Almiro༺n update very soon as PIF plan emerges
TBR Analysis: How much can Newcastle earn from expanded St James’ Park?
Newcastle generated £38m through the turnstile🌌s in 2022-23, the last season for which full financial data is available.
That figure will ha♚ve risen again by the time it co𓂃mes for the club to release its 2023-24 accounts, which are due early next year.
That is thanks to their Champions Leag🌳ue participation, which yielded three ultra-lucrative extra matchdays at St James’ꦆ Park.
An expansion to closer to 60,000 could easily see the club generate £60m in a similar season in which Nꦜewcastle compete in Europe – and that is at the conservative end of the spectrum.
There are also a number of associated commercial benefits of♔ having a shiny new stadium, as Spurs have discovered in recent years.
A stadium naming rights deal, perhaps with one of the companies in PI🍎F’s astonishing £800bn portfolio, could be worth up to £20m per season, for example.