In amongst all of the transfer madness over the past few days, an interesting and potentially massive update has emerged from The Times‘ Martin Hardy on our summer spending power.
According to the North-East correspondent, we are “set to announce a series of sponsorship deals in the forthcoming weeks,” which will provide a significant boost to our summer budget and raise the club’s turnover, which increased to £250 million in the most recent financial statements.
The article does not disclose the business agreements we have reached, but this is precisely the information we require as we continue to fight the FFP/PSR rules. Increasing revenue streams allows us to invest more money and sell fewer of our great players.
Hardy adds that we are due £37m from our participation in the UEFA Champions League, while lucrative deals with Adidas – who will become our official kit manufacturer for the 2024/25 season onwards – and front of shirt sponsor Sela will also be factored into next year’s accounts, giving us more wiggle room to spend this summer.
Considering all of this, one would question if, should the right player become available at the appropriate price, some of our summer budget could be moved forward over the last ten days of the January window.
The majority of our 2024 spending will undoubtedly occur in the summer, when player trading will be a major focus. However, with £400 million already spent since the PIF takeover and FFP impeding our ability to sign players this month, a plethora of new sponsorship agreements will be a welcome boost and something to keep an eye out for in the coming weeks.