Newcastle United CEO David Hopkinson and head coach Eddie Howe (Image: Getty Images)
Newcastle CEO David Hopkinson has revealed that he spent a two-hour lunch meeting with head coach Eddie Howe in the immediate wake of the 2-1 defeat to Sunderland at St James’ Park, yet stopped short of offering any long-term guarantees over the manager’s future.
The Canadian outlined expectations from the club’s hierarchy for the remaining seven fixtures of the 2025/26 season during a roundtable with journalists at St James’ Park this week, held to discuss the club’s latest financial results. The club unveiled impressive figures, reporting record revenues alongside a 44 per cent rise in commercial income, as turnover climbed by £15m to £335.3m, despite the absence of European football. Profit after tax came in at £34.7m.
With Champions League revenue from this season set to feature in next year’s accounts, the financial outlook will look even brighter in 12 months’ time, though nobody at United needs reminding that failing to secure European qualification this campaign threatens to hamper the club’s financial momentum.
This means the pressure continues to mount on Howe, with United stuck in 12th place in the Premier League table despite progressing to the last 16 of this season’s Champions League. The spotlight on the head coach has grown more intense following the derby loss to Sunderland, and Hopkinson refrained from offering any guarantees regarding Howe’s long-term position.
Rather, he stressed the importance of everyone at the club focusing on the immediate challenges, which include difficult away fixtures against Crystal Palace, Arsenal and Nottingham Forest before the campaign concludes.
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When questioned about Howe’s future, Hopkinson said: “I don’t have a stance on his future. What I can tell you is that the derby loss hurt. We take it seriously. There’s nothing within us that thinks ‘well, it’s just three points and on we go’. It has resonated.
“I spent a couple of hours in a one-on-one lunch recently with Eddie, and we talked through a multitude of things, including that.
“Eddie’s our manager. I expect to have a great run to the end of the season here, and we’ll talk about the future when it’s time. Right now, we’re focused on this season’s competition.”
The Daily Mail also claimed that Howe’s long-term future is in doubt after the lengthy meeting.
Hopkinson was subsequently challenged about his comments on Howe and whether he had given an ambiguous response. The CEO, who restated the necessity of securing European football next season, supported by finance chief Simon Capper seated beside him in the room, said: “I would not frame it that way (open-ended). We are not looking to make a change at the moment.
“We are not having those conversations. We are still in the midst of the season. Right now we are focused on the seven matches we have remaining and not distracting ourselves with speculation about what we may or may not do in the summer.
“Right now, all of us have only got so much bandwidth and we are focused on this season and finishing strongly.”
Eddie Howe has seen his future put in doubt. (Image: Getty Images)
Capper and Hopkinson both suggested that Newcastle must regard themselves as a ‘trading’ club, with the requirement to sell and purchase now evident due to financial regulations, and that Howe harbours no misconceptions about what lies ahead in the transfer market.
This follows rumours surrounding the future of numerous Newcastle’s high-profile players, with the likes of Sandro Tonali, Tino Livramento and Bruno Guimaraes all linked with exits this summer.
Hopkinson said: “Eddie is experienced, thoughtful and understands squad cost management and the need to maximise our competitive opportunity. Eddie wants the exact same things we do and we have lots of good dialogue with him. What I can tell you is he is aligned and understands this.”
The club’s financial results, meanwhile, highlighted the continued progress made since the Saudi-led takeover in 2021, with remarkable growth following years of stagnation under Mike Ashley.
Hopkinson maintains the figures place the Magpies in a strong position to realise their ambition of achieving ‘world class’ status by 2030, though the numbers were given a boost by selling the leasehold of St James’ Park and other assets to a company forming part of its wider operations.
A club statement read: “Newcastle United Limited has announced its financial results for the year ended June 2025, confirming record revenues and a 44% increase in commercial income as the club’s operational transformation continues.
“The 2025 financial results are supported by success on the pitch during the account period, with the club winning a first domestic trophy in 70 years and achieving a fifth-place finish in the Premier League to qualify for the 2025/26 UEFA Champions League.
“Despite not playing in European competition during the accounting period, the club’s turnover rose by £15m to £335.3m. Profit after tax was strongly positive at £34.7m. A 44% rise in commercial revenue was a key driver in overcoming the loss of European earnings. This was supported by investment into a new in-house retail operation and the opening of the unique ‘St. James’ STACK’ fan zone next to St. James’ Park.
“The club also undertook the reorganisation of its property holdings and group structure to support future investment in infrastructure, which was accounted for in accordance with FRS102 accounting rules. The 2025 financial results reflect a profit on disposal of £133.2m, which will be slightly adjusted in Financial Year 2026 based on results of a now-concluded Premier League fair market value process.”
Hopkinson said in a statement: “Our financial results reflect not only strong progress on and off the pitch, but also the firm foundations being laid for the future we all aspire to. Thanks to the continued backing of PIF and the Reuben family, we are better positioned than ever to invest in our long-term vision and create the conditions for sustained success.
“Together with our supporters, our staff, our players and our ownership, we move forward with ambition and a shared belief in what this club can become.
“As these results pre-date my arrival, I also want to express my sincere gratitude to Darren Eales for his leadership and dedication during an important period of transition for the club. He made a lasting contribution during a key phase, and we are building on that progress with confidence.”
