Newcastle Rename St James’ Park
Newcastle United managing director Derek Llambias has confirmed that the club have completed a new deal to hand over the naming rights of their traditional St James’ Park home in order to balance the books.
The club will henceforth play all their home games in the Sports Direct Arena after a new deal allegedly worth £8-£10 million was agreed by the two parties, which Llambias says is essential if the club is to move forward.
“To compete we need to go further,” said Llambias “I would hope to generate between £8-£10 million a year and that will buy us a new player. We need a new striker in January and we’ll need replacements in the summer.”
Newcastle currently sit third in the Barclays Premier League after an unprecedented start to the season has seen them take 25 points from 11 games, but the Magpies face a testing run of fixtures over the next month that will stretch their squad to the limit.
Alan Pardew’s team travel to both Manchester City and Manchester United in consecutive weeks before entertaining Chelsea at home, and Llambias knows that if they are going to compete with the financial clout of the trio he’ll need extra funding.
“We can't compare ourselves with [Roman] Abramovich, we haven't got that sort of money. If we want to compete with the big boys we have to bring more revenue in. We need to give ourselves as much of a chance as possible,” he said.