Newcastle United have "scope to improve" their sponsorship and secure a lucrative deal, according to finance expert Kieran Maguire.
Amanda Staveley recently revealed the new owners had already invested £38million into the club in their short time in charge and had plans to take down the Sports Direct signs around the stadium.
The Magpies have plans to replace the Sports Direct sponsorship deal with a more lucrative package that would help with Financial Fair Play (FFP).
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Newcastle's takeover made them one of the richest clubs in the world but current FFP regulations mean they're limited as to what they spend.
Despite dominating the stadium, SportsMail claims the club received the equivalent of just £157,500-a-year from Sports Direct under Ashley - a meager fee in comparison to other clubs' deals.
A recent vote by Premier League clubs has temporarily blocked Saudi sponsorship at Newcastle, which would also be seen as a way round current FFP regulations.
However, Maguire believes Newcastle will feel the current sponsorships "undervalue" the club and there's room for a "lucrative" deal.
Speaking to Football Insider, Maguire said: “I think the static advertising isn’t worth a huge amount.
“But the perimeter advertising, the LED products and so on, can be quite lucrative.
“Anything that reminds Newcastle fans of Mike Ashley would be best removed as quickly as possible because we have entered a new era.
“The disassociation with Mike Ashley, who was clearly a controversial owner, is part of the new brand of the club.
“In 2019-20, Newcastle United had sales of £141,000 to the Frasers Group and subsidiary companies.
“But it was £1m in the previous year with other companies connected with Ashley. I think Newcastle fans will feel that is undervalued.
“Even in a non-Covid year, I think there is scope to improve that.
“However, it will be monitored very closely by the Premier League. They won’t be able to announce a £15m deal.”
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