Newcastle United chairman Yasir Al-Rumayyan was presented with both plans for a new stadium as well as a redeveloped St James’ Park in a meeting with senior club figures at a Northumberland hotel on Monday.
As well as discussing various aspects of the club’s development and its financial position ahead of the summer transfer window, as it navigates its way through Premier League profitability and sustainability rules (PSR), the construction of a new stadium was high on the agenda.
As revealed by Telegraph Sport earlier this month, it is understood the board have explained to Al-Rumayyan that their preferred option would be to move to a purpose-built new stadium on land adjacent to St James’ Park.
The new stadium, which is expected to have a capacity of just under 70,000, would be a multi-sport venue and would be built on some of the land already occupied by St James’ Park using an overlapping footprint.
At a cost of around £1.5 billion, the impressive stadium, which will be taller than their current home, would be the second-largest club ground in the country with state-of-the-art facilities that would enable it to stage other large events.
However, it is not thought a final decision is imminent and the leading representative of Saudi Arabia’s Public Investment Fund (PIF) is expected to take some time to consider the cost implications and how it will be funded.
There are still some behind the scenes who argue it would be better to stay at St James’ Park because of the emotional pull of staying at their historical home as well as the far cheaper cost of expansion compared to a completely new build.
Sources are confident that the new stadium proposal will eventually get the green light from PIF, but they are also happy with the second option should the Saudis decide to remain at St James’ Park.
If Newcastle do decide to modernise and expand St James’ Park the capacity will also be well in excess of 60,000 and could be completed within five years at a cost of £800 million. The new stadium is likely to take around seven years to construct.
The feeling is that PIF will eventually conclude that it is better to go for a completely new stadium which will be part of a wider regeneration of the surrounding area, but such a big project will need to go through several stages in Saudi Arabia before it is agreed..
Telegraph Sport can also now also reveal that if the new stadium is given planning permission – which could be open to legal challenge and face a delayed start date as a result – a new green space will be built where St James’ Park is.
That would mean the listed buildings situated behind the East Stand – which is one of the main obstacles to rebuilding St James’ Park – would overlook the new park.
The building of a modern green area is likely to make the loss of some of Leazes Park more palpable to Newcastle City Council but it could be some time until a final decision is made and planning permission sought.
