Newcastle United owners' decision to buy back the Strawberry Place is not a sign that the expansion of St James' Park is imminent. That is the view of football finance expert Kieran Maguire, who reckons the move is a 'protective exercise' to ensure the redevelopment of the stadium could be considered in the future.
The land which had once belonged to the club was controversially sold by former owner Mike Ashley in 2019, with Newcastle City Council then granting permission for a £120 million development. However, following more than three years of limbo, the land is back in the club's hands once more.
The news earlier this month was greeted with near universal acclaim from supporters, with attention almost immediately turning to the prospective expansion of St James' Park. Ashley's era saw 10,000 half-season tickets offered for free in response to dwindling attendances, but the revitalised mood on Tyneside now means every home match this season has been a sellout.
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Reflecting on the move on the latest edition of the Price of Football podcast, Maguire acknowledges the demand is there for the Magpies to 'easily' sell at least a further 8,000 tickets per matchday. However, the University of Liverpool lecturer reckons it is more likely that the purchase reflects a proactive move to keep the door open for future developments, rather than being a sign of a major investment in the coming months.
Maguire told the Price of Football podcast: "It could be done as a protective exercise because whilst there is no indication yet that PIF and Amanda Staveley and the Reuben brothers are planning to expand the stadium, if that is their plan at some point and Newcastle could easily sell out 60,000-plus, they would need some room for expansion. The worst-case scenario would be if there were new owners of that plot of land, if it was used for retail, shopping or other forms of development.
"This is a bit of future proofing, the ability to sell tickets is certainly there. The feel-good factor on Tyneside is there, so some people are putting two and two together and they are convinced this is a sign there will be an expansion. I think it's more of the overall strategy from the owners which is to have progress rather than leaps and bounds forwards in terms of spending.
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