Top journalist David Ornstein has been discussing what promises to be a busy summer for Newcastle United.
After no major first team signings over the past three transfer windows, an influx of quality signings feel essential ahead of the 2025/26 season to inject some fresh blood into a squad that’s been allowed to go a little stale.
A goalkeeper, centre-back, right-winger and striker could be targeted, but free-spending may not be simple – despite our much-improved PSR position.
Ornstein on Newcastle’s transfer situation
The Athletic’s main man David Ornstein is backing Newcastle to do business this summer after an upturn in revenues – but believes our latest financial results suggest we’ll still see careful spending.
The 2023/24 books showed revenue was up by 28% and up to a record £320m, but overall losses of £11m were still filed, despite being cut down considerably from the £71.8m lost the previous year.
Discussing all of the above and Newcastle’s transfer hopes this summer, Ornstein told NBC Sports: “Newcastle released their financial results last week, and they paint an encouraging picture.
“Revenue is up quite spectacularly, but they are still losing money. That’s why they’ve struggled to comply with the Premier League’s Profitability and Sustainability Rules.
“They have had to make some very tough decisions. We’ve seen a lot of players sold (Minteh, Anderson, Almiron and Kelly), but players have not been coming into the club in such numbers.
“In terms of signings, I think they would like to do business in the summer market, but they will still have to be very careful in balancing the books.”
Newcastle’s 23/24 accounts very encouraging
Not only was our overall revenue up from £250m to £320m for 2023/24, our latest financial figures showed commercial revenues went from £43.9m to £83.6m.
An impressive increase, although they are still dwarfed by ‘big six’ rivals, while our matchday revenue went from £37.9m to £50.1m and will only rise following the introduction of the STACK.
A summary of our profit/loss numbers over the past 10 years can be seen below, following our revenue trends, which show year on year growth since the takeover in 2021:
