Newcastle's financial position has improved significantly with a 28% increase in revenue last season fuelling a big reduction in overall losses.
The Magpies have posted a loss after tax of £11.1million for the year ending 30 June, 2024, significantly down on the £71.8m loss for the previous year.
Champions League participation contributed to a big uptick in revenue from £250.3m in 2022-23 to £320.3m last season.
Even though they did not get beyond the group stage, Newcastle earned £29.8m in UEFA distributions from playing in Europe’s premier club competition last term, with those extra matches also contributing to a 32% increase in matchday revenue.
Commercial revenue was also up 90% to £83.6m.
The results clearly strengthen the club’s position in relation to the Premier League’s profitability and sustainability rules (PSR), which have constrained them despite the deep pockets of the owners, the Saudi Arabian Public Investment Fund (PIF).
The PSR limit clubs to maximum losses of £105m over a three-season assessment period, with points deductions having been applied to Everton and Nottingham Forest last term for breaches.
The departures of Allan Saint-Maximin - pictured above - in the summer of 2023 and Elliot Anderson and Yankuba Minteh last summer counted towards a profit on disposal of player registrations of £69.8m and helped the club comply with PSR for 2023-24.
Newcastle chief executive Darren Eales said in a statement accompanying the results: "We are committed to sustainable success and we have started 2025 in a strong position.
"Our progress has been supported by diligent work on and off the pitch. Returning to the Champions League for the first time in more than 20 years was hugely memorable for everyone connected with the club, and it has clear upside financially as we continue to grow.
"We continue to make significant strides with our commercial deals and matchday offerings as we strengthen the foundations of the long-term project here at Newcastle United."
