Peter Silverstone masterclass as Newcastle United land £40m boost

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Newcastle United are trying to make just as much progress away from the pitch as they are on it.

The Profit and Sustainability Rules have stunted Newcastle United’s growth under PIF, with Eddie Howe denied any major signings over the past few years.

The only way to unlock spending power at Newcastle is to grow revenue, so that has been a major focal point for PIF since their takeover in 2021.

Newcastle announced £320m revenue in their 2023/24 accounts, which exceeded the expectations of CEO Darren Eales and represented a £70m increase from the year prior.

Prize money from the Champions League certainly played a part, but Newcastle’s figures also showed a mighty jump in commercial income.

Newcastle commercial income soars £40m under Peter Silverstone

Newcastle’s commercial struggles is Mike Ashley’s fault, with the former Magpies owner failing to develop that side of the club.

Since PIF took charge, there has been a notable increase in lucrative sponsorship deals. A £30m per year Adidas deal was struck alongside the Sela partnership agreement.

In the latest 2023/24 accounts, Newcastle’s commercial income rose a staggering 90 percent from £47million to £86million.

When PIF first took charge of Newcastle in 2021, the commercial income of the club sat at just £21million.

Peter Silverstone deserves credit for Newcastle’s £40m growth

In 2022, Newcastle hired Peter Silverstone as the club’s new Chief Commercial Officer after he left his previous role at Arsenal.

After his appointment, CEO Darren Eales said: “We are confident we have found the right person to work with our team to deliver our commercial growth plans.

“He will be a key member of the club’s executive team as we look forward to delivering on the club’s commercial potential.”

Silverstone has travelled to Saudi Arabia to line up commercial deals for Newcastle, and the growth in income speaks for itself.

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There is still so much potential for Newcastle to continue growing their commercial income too with deals such as training ground kit sponsors still yet to be agreed.

Newcastle chairman Yasir Al-Rumayyan invited Newcastle investment in a recent showcase event, and a return to European football will help Newcastle explore more lucrative deals.