Newcastle complete '£20-25m' purchase of Leazes Terrace - Club statement

A significant update has arrived this afternoon regarding the future of St James' Park and a potential new stadium.

After years of talk, a decision is clearly gathering pace, with Newcastle United completing the purchase of a 'significant portion' of the Leazes Terrace building next to St. James' Park.

While both options may still be on the table - building a brand new ground elsewhere or expanding the current site - today's breaking news hints that the club may be swaying towards increasing the capacity of St James' Park. 

Club statement confirms Leazes Terrace deal 

Newcastle United have secured the purchase of the A-listed Leazes Terrace, situated behind East Stand, and have released the following statement on Tuesday afternoon.

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.

A strategic purchase

This strategic purchase is part of the club's long-term planning as it continues to assess all credible and feasible options for the future of its home stadium.

It provides Newcastle United with greater flexibility and ensures any future decisions support the club's ambitions, as well as its responsibilities to the local community and the city of Newcastle upon Tyne.

The club recognises the building’s historic and architectural significance and is committed to its preservation.

Ongoing use

There are no plans to change the current use of Leazes Terrace, which is currently let for student accommodation, and the club will retain the building’s existing property management operator.

The investment to purchase Leazes Terrace does not impact the club's football trading position.

Newcastle insist this is a 'strategic purchase', as part of the club's long-term planning, as they continue to assess all options for the future of St James' Park.

The Athletic reports that it has cost the club £20-25 million, creating options for a total rebuild of the current stadium or an extension of its 52,000 capacity. 

Chris Waugh's piece insists that this purchase is NOT a clear sign that we will be staying put, despite the early presumptions.

Only time will tell on that front, but things are certainly gathering pace, finally!