Newcastle United’s return to the Champions League boosted turnover by almost 30 per cent last season, easing concerns over long-term compliance with the Premier League’s financial rules.

The Magpies reported a loss of £11.1m but that still represented a £60m improvement on the previous year, thanks to revenue growing from £250.3m to £320.3m.

Participation in the lucrative Champions League following a two-decade absence was a major factor, contributing almost £30m in prize money despite Newcastle failing to make it out of a tough group.

Matchday revenue was also up more than 30 per cent, partly as a result of their European campaign, while a new shirt sponsorship deal with Saudi brand Sela helped swell commercial revenue by 90 per cent.

“We are committed to sustainable success and we have started 2025 in a strong position,” said Newcastle chief executive Darren Eales.

“Our progress has been supported by diligent work on and off the pitch. Returning to the Champions League for the first time in more than 20 years was hugely memorable for everyone connected with the club, and it has clear upside financially as we continue to grow.

“We continue to make significant strides with our commercial deals and matchday offerings as we strengthen the foundations of the long-term project here at Newcastle United.”

Newcastle’s repeated losses put them at risk of breaching the Premier League’s Profitability and Sustainability Regulations (PSR), which stipulate that clubs can only lose £105m over a rolling three-year period. 

With some expenses deductible, and after the late sale of players before the club’s 30 June financial year-end, they are believed to have complied with PSR and now have more headroom to spend in future. 

Saudi Arabia’s Public Investment Fund, which majority owns Newcastle, injected a further £35m into the club in October last year.