Newcastle United’s financial transformation under Saudi ownership is highlighted by their return to the Deloitte Football Money League, a ranking of the world’s richest football clubs.
The Magpies returned to the top 20 for the first time in four years last season, following their takeover by a consortium led by Saudi Arabia’s Public Investment Fund.
The Premier League club’s revenue increased to €212m (£180m), placing them 20th in the annual list, which is dominated by English sides more than ever before.
“It’s hugely significant,” said Zal Udwadia, assistant director of Deloitte’s Sport Business Group.
“Eleven of the 20 clubs are from the Premier League and I think it’s only a matter of time until we see all 20 in the top 30.
“Newcastle have been a powerhouse, they’re a one-club city and investment will only trigger further growth.”
The north-east team were ranked as high as fifth in the Money League during the late 1990s, but dropped out of the top 20 in 2010 and had re-entered only three times since.
Newcastle have spent approximately £200m on new players since they were sold to PIF for £305m by Mike Ashley in October 2021.
They are riding high in the Premier League this season and on course to qualify for the Champions League for the first time in 20 years.
The Magpies are also expected to sign a new front-of-shirt sponsor for next season that would significantly improve the terms of their current deal with bookmaker Fun88.
Although Newcastle’s new owners have invested substantially in new talent, they have been unable to spend as freely as some rivals as their income still lags behind 10 other Premier League clubs.
Manchester City top the Deloitte Football Money League for a second edition in succession, having broken the stranglehold of Real Madrid, Barcelona and Manchester United last year.