Newcastle United's new Chief Commercial Officer (CCO) Peter Silverstone is arguably the Magpies' most important behind the scenes addition so far as the club look for added sources of income and a bigger global appeal.
Silverstone joins Newcastle after leaving OneFootball, the world's largest football media platform, where he was Senior Vice President of Global Development. Before that, he was the man responsible for striking major partnerships at Arsenal while working as the club's commercial director.
His responsibility in the capital was to form relationships with major companies that both increased the Gunners' transfer kitty and broadened the already worldwide appeal of the north London outfit. Silverstone played a key role in striking new partnerships with sponsors Fly Emirates and manufacturers Adidas, reportedly doubling Arsenal's kit earnings after leaving Puma.
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Newcastle are yet to reap the financial rewards of significant commercial investment in the first 12 months of the takeover, with FUN88 still sponsoring shirts and Saudi-based company Noon recently becoming the official sleeve partner. The club are planning talks over kit sponsorship in the coming months.
Striking new lucrative deals is imperative for Newcastle as they seek to climb the Premier League table. Without significant outside interest in the future, Eddie Howe's side can think again when it comes to having the funds to dismantle the 'big six'.
Newcastle CEO Darren Eales last week confirmed St James' Park may be renamed in the coming years as the club search for extra revenue streams. But the arrival of Silverstone will help Newcastle bolster their transfer budget in the coming seasons as he uses his experience to broker new deals.
"All the money that is available to our manager is coming from commercial income," Silverstone told Football London back in 2019 when discussing his Arsenal role. "I'm responsible for that and the matchday income.
"My focus and everyone's focus at Arsenal is ensuring the club can put the best players on the pitch to win the best trophies and tournaments. I'm aware of the focus on me."
Silverstone, Eales and Dan Ashworth joining the hierarchy on Tyneside comes as Newcastle continue to build foundations for their 'skyscraper'. The shrewd off-field additions are just what supporters and Howe want to see as the Magpies begin to show their talent on the pitch too.
"It's hugely important because, without those structures in place, the long-term success isn't going to happen," Howe said earlier this month. "First of all, you need good people in the right positions with a long-term plan and they need the freedom to execute that.
"Everyone is under pressure but not consistent pressure every day because you have to make the right decisions for the long-term. There's a lot of work going on behind-the-scenes to improve everything that we deliver for our current players and the players we'll have as we continue to exist. I'm very positive about the future."
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