- Newcastle United purchase ground next to St James’ Park
- PIF splurge £25 million as expansion edges closer
- David Hopkinson on £60,000 capacity hopes
Newcastle United have confirmed the purchase of a ‘significant portion’ of the historic Leazes Terrace building next to St James’ Park as the expansion of the stadium edges closer.
The Saudi Public Investment Fund are known to be prioritising improving the club’s stadium over the next four years with ambitions to become one of the world’s leading football teams by 2030.
St James’ Park currently holds 52,000 fans on matchday but is always sold out with demand for tickets exceeding capacity.
Newcastle United purchase Leazes Terrace
The ground’s iconic city centre location has made expansion difficult. The club are known to have considered destinations for a new stadium but a relocation would be controversial for many supporters.
On Tuesday afternoon, the club issued a statement confirming the purchase of ground adjacent to St James’ Park. While Newcastle United were quick to outline that the news was not explicit confirmation of expansion plans, it’s certainly an exciting update for fans.
The statement read: “Newcastle United has completed the purchase of a significant portion of the historic Leazes Terrace building next to St. James’ Park.
“The acquisition of a substantial majority of the Grade I listed structure includes its northern, southern and western elevations – including all areas facing the stadium.
“It also includes most of its eastern elevation, with a small block of private residences remaining in this part of the building.”
Magpies believed to have spent £25 million on ‘strategic purchase’
The club went on to outline that the ‘strategic purchase’ is part of ‘long-term planning’ with multiple ‘credible and desirable’ options for the future of a home stadium still under consideration.
The Magpies recognised Leazes Terrace’s ‘historic and architectural significance’ and a commitment to preserving its status with no plans to change how the buildings are currently used.
The Athletic reports that the club is believed to have spent £25 million on the transaction. The crescent street has long restricted expansion of the stadium due to its Grade I listing.
Newcastle United set for UEFA revenue boost
Widespread reports line up with the club’s statement in that all opportunities are still being explored, including relocation, despite the purchase. However, it’s long been known that those high up in the club would prefer to remain in its current location.
The purchase of Leazes Terrace is viewed as a ‘strategic benefit’, no matter what the eventual decision on expansion is.
Ultimately, the expansion of the East Stand is now more feasible than it had been previously. The club is also expected to be able to count the revenue from the buildings, the flats, student accommodation and offices towards the figure submitted to UEFA, in another boost.
Newcastle United CEO David Hopkinson spoke openly about the need for expansion on talkSPORT earlier this year. He said: “The truth is we haven’t decided. St James’ Park is a magical place and it’s going to be an extraordinary place on Saturday when we play our next match.
“It’s nearly 53,000 – we think it could be bigger. That, of course, is revenue and [would be] a major investment.
“We haven’t made the final decision on what we’re going to do but we’re working on this every day, deciding whether it’s here or on a new site.
“But we have an opportunity that we’re pursuing and we’re working on it every day. All of our modelling, on the capacity today [for a potential rebuild], starts in the 60,000 range.”
In other news, Southampton star’s wife hints at Newcastle United £20m transfer decision in Instagram post.
