A new home and future for Newcastle

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The Independent Online
Newcastle United will map out their financial future today by unveiling plans for a new stadium and a stock market flotation. The club's owner, Sir John Hall, has made a huge investment in players and the combination of a bigger stadium and a share issue would offset that outlay and pave the way for further spending.

Newcastle's current home, St James' Park, only has a capacity of 36,610 at a time when the club could attract the 50,000-plus crowds which watch Manchester United at Old Trafford.

Newcastle's preferred site is believed to be on Castle Leazes Moor. As far as flotation plans go, Hall had originally planned to float his ambitious scheme to create a Sporting Club, with basketball, ice hockey and rugby teams, but it is now thought only the football club will move for a full market listing, with estimates of a value for the club ranging between pounds 140m to pounds 200m.

Footsie football index, page 18