Newcastle United announce new commercial partner amid push for 'global growth'
Newcastle United have announced their latest “partner” amid a push to drive up commercial revenues.
The club has announced a “multi-year deal” with drinks firm Monster Energy, which has a global footprint.
Commercial revenues stagnated during Mike Ashley’s 14 years as owner, and United appointed Peter Silverstone as chief commercial officer last month to “deliver the club's ambitious commercial growth plans”.
The club, working within the Premier League’s Profit and Sustainability rules, needs to increase commercial revenues so it can compete with the top six in the transfer market.
“Newcastle United is on an exciting and ambitious journey to grow our global reach and fanbase,” said Silverstone in a club statement. “On this journey, we are eager to align with partners that share our global growth ambitions. Monster Energy is a brand that continues to enhance its global presence in the sporting world.”
Monster Energy senior vice president of marketing Jimmy Goodrich said: “Monster Energy is looking forward to building its relationship with the club and its incredible fanbase, both in the UK and abroad, over the coming years.”
The club is also set to announce a partnership with Saudia, Saudi Arabia’s national airline.
Newcastle chief executive officer last month Darren Eales last month claimed that companies were “lining up” to back the club, which is 80%-owned by Saudi Arabia's Public Investment Fund (PIF) following a takeover last year.
Eales said: “There’s going to be – and there already is – a line of companies that are excited to be part of this story.”