Champions League advance brings handsome financial reward and excitement for fans, but beyond that there is little else on offer for the Toon
Newcastle thrashed Qarabag in the playoff round to make it to the last 16 of the Champions League.
Manager Eddie Howe has taken the Toon to the Champions League in two of his five seasons at the club, since being appointed after the Saudi Public Investment Fund-backed takeover of the club in 2021.
In their previous season in the Champions League they defeated French champions Paris Saint-Germain 4-1 at St James’ Park but ultimately finished bottom of their group, failing to advance to either the last 16 or the Europa League, based on the old format.
This season they have gone one better so far. The tie against Qarabag was rarely ever in danger, with the Azerbaijani side too far down the footballing pyramid to realistically compete.
But what does this victory bring to Newcastle overall? Howe said the target when the season began was to advance into the last 16. Beyond that, it is difficult to expect much of the Magpies. They face either Chelsea or Barcelona over two legs.
The first of those will take place at St James Park, and the two legs will be played between 10-18 March. The odds of winning and making it to the quarter-finals are heavily against them.
Newcastle have faced financial issues over the past few years as they pursue their goal of competing among the six to seven teams in the top end of the Premier League. They may, as a matter of potential, have significant financial backing from the PIF, but not in reality.
The Premier League’s financial rules have limited how much Newcastle can spend on transfers and player wages. Last summer they struggled for weeks to bring anyone in, with their top striker Alexander Isak instead leaving to join Liverpool.
UNITED 👊 pic.twitter.com/wQYiWR4m7g
— Newcastle United (@NUFC) February 24, 2026
The difficulty they had in bringing anyone in was partly due to their transfer targets choosing to go to other clubs, but the Magpies are still limited in terms of how much they can spend on their squad, even if the PIF were willing to release significant funds – and it is not clear that they are.
Champions League participation brings handsome financial reward, with the Magpies having already earned above £40m for reaching the last 16, even before factoring in broadcast earnings and added matchday revenue.
But then Newcastle are also 11th in the Premier League now, far removed from the top end, nine points behind Chelsea in fifth and 12 behind Manchester United. Unless they achieve the improbable feat of winning the Champions League, they are likely to have no European football at all next season.
If they struggled to bring in the most talented footballers with Champions League football on offer, their absence in Europe will make that task even harder.
Of course, nothing beats the excitement of fans watching their team compete against the very best in European football, and if Newcastle draw Barcelona, an away trip to Camp Nou will be much cherished by fans.
Beyond that, their brave Champions League advance might help alleviate a few financial difficulties, but it does little else to help the Magpies, especially when there is little prospect of another campaign.
