Newcastle set to decide between £1.5bn stadium and 60,000 rebuild of St James' Park

Newcastle United’s long-running stadium debate has taken another interesting turn, with The Times’ Martin Hardy revealing more details on the two options now being considered by the club.

And there is quite a difference between them. One would see Newcastle build a brand-new 65,000-capacity stadium behind the Leazes End at a staggering £1.5bn cost, while the alternative would be to stay put and completely redevelop St James’ Park.

£1.5bn plan would come with complications

Hardy reports that plans have now been drawn up for a new 65,000-capacity stadium just behind the Leazes End, with the project estimated to cost around £1.5bn.

The major sticking point is how that would be financed, with our PIF owners wanting the club itself to fund roughly a third of the cost.

That would mean bringing in around £400m-£500m from new investors and, importantly, would dilute the current owners’ holding in the club. 

It is a huge financial commitment, although it would deliver a significantly larger home; a 12,000 increase on the current capacity. A bigger, more modern new home would also help the club keep pace with our ambitious commercial targets, which remain vital in a world where money-making is key to close the gap between ourselves and the 'big six' from a financial perspective.

‘Wholly redeveloped’ St James’ Park could reach 60,000

The alternative is now being described as a “wholly redeveloped St James’ Park”, with the cost expected to be closer to £500m. 

That would be around a third of the price of a new stadium, while still taking capacity from the current 52,700 to approximately 60,000. A smaller increase, but it would allow us to remain in our true home, which so many fans, myself included, remain so reluctnat ot leave.

So there is clearly a massive decision to be made, and it seems Newcastle are yet to settle on either option. 

Hardy also reports that the club will need partners to help work through the design, construction and financing of whichever route they eventually choose.

The £20-25m purchase of much of Leazes Terrace earlier this year has already given the club greater flexibility as they assess their stadium options.