Newcastle United boss Eddie Howe admits the Magpies’ mission to be one of the Premier League’s best profit-making machines is not lost on any department around the club these days.
Despite the club’s Saudi-backers PIF – who have an estimated worth of £782billion – Newcastle can only spend what they earn. This pours extra emphasis on to off-field activities and gaining big commercial deals and round the clock work selling corporate packages.
After being told in June he would be losing two of his best young players in Elliot Anderson and Yankuba Minteh, Howe felt the sudden impact of the profit and sustainability rule book last summer and accepts he must factor in finances to some of his football decisions again moving forward. United posted a revenue win of over £250million in their last set of accounts and know they will have to fight hard on and off the pitch again for future transfer windows.
It means that projects such as the club’s fanzone – the STACK at St James’ – are crucial with sporting director Paul Mitchell joking that attending a Tuesday afternoon drinking club could help land a new centre-forward! After a week in which Newcastle’s top brass faced fans Howe admits he has to consider the Magpies’ profit margins before contemplating moves in the transfer market.
Howe told Chronicle Live: “Yeah, revenue is key. It is with the current rules as they stand. Everything you do is defined by how much money you can bring in. It’s taken in extra importance with the PSR rules as they currently stand.
“That is why the club are looking at every avenue to try to increase the money that we are bringing in.”
Mitchell spoke openly and honestly about having to cut his cloth accordingly in terms of finances despite having super rich owners above him in the shape of PIF.
After a Premier League vote on Friday resulted in no real change in the current restrictions in terms of sponsorship deals being pushed through, Mitchell said: “Unfortunately, PSR has entered our lives making it delicate, difficult, complicated for us in particular. Looking forward we are looking to navigate the strategic plan and continuing to progress the club and continuing building performance on the pitch which is crucial for the women’s and men’s teams.
“A big part of my role is making these guys’ lives on stage a living nightmare to ascertain as much cash as we can in very strategic ways to invest in the first-team and the women’s and the Academy moving forward.”
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View news Source: https://www.chroniclelive.co.uk/sport/football/football-news/eddie-howe-newcastle-united-transfer-30438360
