Newcastle submit plans to redevelop stadium
Newcastle have launched plans to rebuild the club on and off the pitch as they plan for future success.
Two days after seeing Glenn Roeder's side booed off at St James' Park following a defeat to Manchester City, chairman Freddy Shepherd today announced plans for a £300million development of the stadium which will expand the capacity to at least 60,000 and add a conference centre, hotels and luxury apartments to its facilities.
Funding for the scheme, which is yet to go through the planning application process, will be independent of the club's football budget with Shepherd promising there will also be investment in the team this summer.
The extra capacity will come at the Gallowgate end of the stadium, which has been selected as a venue for the 2012 Olympic Games.
But it is the development of two hotels, the apartment blocks and the conference centre which the Magpies hope will help them to establish St James' as a major attraction in all fields.
A joint venture with MGM Grand could yet see a casino added to the facilities, although that decision currently rests with the Government.
Shepherd said: 'What we are proposing is something not just for the football club, but for the whole city and the people of Newcastle.
'Having a conference centre would allow Newcastle to attract top events in all fields, and the whole project will stand as a monument to the vibrant development of the city in the new millennium.'
The news follows an interesting few months for the Magpies off the field during which potential takeover bids by the Jersey-based Belgravia Group and the Polygon-backed St James' Park Group came to nothing.
Today's announcement came just three days after the club announced an operating loss after player trading and amortisation of £6.9million for the six months to December 31 last year.
Work on the redevelopment could bring 1,500 jobs to the city, but after Saturday's dismal 1-0 Barclays Premiership defeat by Manchester City, which left the Magpies rooted in 11th place in the table, it was Roeder's employment and that of his players which was exercising minds.
The 51-year-old remains as committed as ever to dragging the club up the table, but the mood was ugly as City left Tyneside with all three points.
Roeder did not pull any punches after seeing his side slip out of the UEFA Cup in Alkmaar and then drastically under-perform once again at struggling Charlton, insisting he would ditch the bottlers in his squad.
He has since revealed it will be his prime intention to finally recruit the kind of defenders who can give the club the foundation they have lacked for more than a decade when he is presented with his summer transfer kitty.
Shepherd said: 'We know the team needs looking at in more ways than one, and that is what we are concentrating on.
'The squad will be strengthened in the close season - and really has there ever been a summer when there have not been comings and goings at St James' Park?'
Titus Bramble and Craig Moore are out of contract at the end of the season and are unlikely to be retained, while loan signing Oguchi Onyewu's hopes of a permanent deal look slim.
In addition, Roeder has been unable to field first-choice full-backs Stephen Carr and Celestine Babayaro often enough because of injury, and although they remain under contract, their places are up for grabs.
The manager has professed himself satisfied with his frontmen - Michael Owen and Shola Ameobi hope to return from long-term injuries before the end of the season, while he is happy with £10million signing Obafemi Martins and bargain buy Antoine Sibierski and his midfield resources are reasonably strong.
However, his team's failure to break down a well-organised, but unambitious City outfit will have come as a concern.
they actually have one of the biggst stadium in england. but they also have more fans. so its better the spend money which will bring back revenue then spending money on useless signings