Newcastle United new stadium plans have been given a big boost by Saudi Ownership, which plans to launch an ambitious new “Project 2030.”
Thanks to a major story by The Telegraph, we now have yet another update on the future of St James' Park. While we've reported for a few months now about either a new stadium or St James' Park expansion, it once again seems that the new stadium project is leading the way.
While the wider Project 2030 includes a lot more than just a new stadium, the £1.5 billion stadium project might be the single most costly part of this new development.
Newcastle United new stadium
As we previously reported, the preferred plan is to develop a new stadium next to St James’ Park, utilizing part of the existing club's land. The anticipated capacity is around 68,000 to 69,000, and the estimated cost is approximately £1.5 billion.
Although significant work has been in progress behind the scenes, there is still consideration for an alternative option that would renovate and extend St James' Park, boosting its capacity to over 60,000 for about £800 million. The club maintains that no final decision has been reached yet, but they aim to complete the construction of one of the projects by the early 2030s.
Newcastle Project 2030: What is it
As for the larger Project 2030, it can be condensed down into the following key points:
- Newcastle United is initiating ‘Project 2030’ to enhance its growth under the Saudi Arabia Public Investment Fund.
- Construct a new stadium on land close to St James' Park. Alternative plan B is to expand and improve the current stadium. Regardless of which option they pick, the aim is to have the project done by 2030 or thereabouts.
- The board meeting led by Yasir Al-Rumayyan has set plans for the next five years to transform Newcastle into a formidable force in English and European football.
- The 2030 timeline is a flexible target aimed at closing the revenue gap with the traditional “Big Six” clubs while building a competitive squad.
- Concerns exist about the ageing squad, with several key players, including Kieran Trippier and Callum Wilson, nearing the end of their careers.
- Recruitment plans include focusing on younger talent from abroad and acquiring established domestic players, while aiming to retain star names.
- Newcastle's revenue has reached a record £320 million, though it still lags behind the Big Six, with Arsenal, Liverpool, Tottenham, Manchester City, and Manchester United generating significantly more revenue.
- The financial disparity limits Newcastle's ability to compete effectively on the pitch, as it does not match the wage and transfer spending of the richest clubs.
- Lastly, the club is aiming to win trophies. The club's former head, Amanda Staveley, famously claimed Newcastle would win the Premier League “in 10 years.” That claim might seem crazy, but she later clarified that she meant to compete and win titles. Newcastle will have a second chance to do that against Liverpool in the Carabao Cup final, the second time Howe has taken his side to a final in three years.
FGG says: Actions will speak louder than words
While it's easy to dismiss the words of an ownership group, it's worth noting that this information comes from a leak, and isn't some grand plan announced by the club. It also comes in the same week that Manchester United owner Sir Jim Ratcliffe did multiple PR interviews to save face against mounting backlash.
Newcastle United are clearly a club looking to move forward. However, they are also massively behind the rest of the “big 6.” When Mike Ashley took over at Newcastle, the club's revenue, at least on the commercial side, was the same as Spurs'. Now, having barely moved since, the club found itself way down the revenue list. In just under four years of ownership, the PIF and partners have put Newcastle back on the financial world stage. With more partnerships, European football and a new, much larger stadium are possibly on the way. The sky is likely the limit for the club, providing on-field gains can match those off the field.