In the stadium study, Newcastle wants to “understand alternative options.”

Brad Miller, Newcastle United’s COO, says they need to “understand alternative options” as part of the process of figuring out if the stadium will work.

Miller gave an update on the club’s stadium feasibility work at the most recent Newcastle United Fan Advisory Board (FAB) meeting, which was made up of fans and top club executives.

The study is now in its second phase, where risks and opportunities linked to the project are being looked into in more detail. This will continue until early 2025, when the decision stage starts.

It was agreed that expanding St. James’ Park “carries a number of risks” and that they “need to fully weigh those risks against the opportunities” in order to make a smart choice.

“It must provide an investable return, and not least deliver strong revenue growth to increase our PSR headroom, which, as everyone knows, means we can invest more in football,” Miller said.

As part of the process, we also need to learn about other choices so that we can see the bigger picture and find the best mix between risk and reward.

“This is a once-in-a-generation investment, so we don’t want to look back in years to come, as a club or as a city, and regret an opportunity missed.”

The stadium has been the home of the Magpies since 1892 and can hold up to 52,000 people at this time.

Miller told the FAB that they’re “investing this time to make sure we are only going to spend money on the project where it will make the biggest difference – to fan experience, revenue, competitiveness, investment in football and operational efficiency” .

“All this requires a robust process that leaves no stone unturned,” he said.