Newcastle United's new chief executive, David Hopkinson, has set an ambitious target for the Premier League club, aiming to be considered among the "top clubs in the world" by 2030. Hopkinson, who took over from Darren Eales in September, believes this goal is achievable with clarity, conviction, and commitment.
Hopkinson, formerly with major sports organizations like the NBA, NHL, and Real Madrid, envisions Newcastle becoming perennial contenders capable of winning the Premier League. He emphasizes the need to ignore doubters and those who might laugh at their aspirations.
The strategy to reach this "super club" status involves increasing revenue through global partnerships and sponsorships and recruiting world-class talent both on and off the field. Hopkinson acknowledges that Newcastle's commercial income needs to improve significantly to compete with top rivals. He said much of their ability to increase revenue is self-help.
The Saudi Public Investment Fund (PIF) owners remain deeply committed to Newcastle, viewing it as a "special investment" despite their other global sporting interests. Hopkinson stated he is in contact with the PIF every day. He believes Newcastle benefits from being part of PIF's global investment portfolio.
Hopkinson's immediate challenge is the undeniable link between points earned and revenue, highlighting the importance of boosting commercial income streams. He recognizes the need for a time-bound transformation plan with key milestones.
Newcastle has made strides since the Saudi takeover in 2021, winning the Carabao Cup and qualifying for the Champions League twice. Hopkinson recognizes that success is determined by trophies.
Darren Eales, the previous CEO, described Newcastle as an "ambitious, long-term project". He emphasized the need to increase revenues and secure lucrative sponsorship deals. The club's financial results for the year ending June 30, 2022, showed a rise in turnover to £180 million but also a loss after tax of £70.7 million, attributed to transfer costs and increased wages.
