Finance expert Dr Dan Plumley has claimed that Newcastle United could get a 'huge boost' by signing a ten-year sponsorship deal for St. James' Park.

The Lowdown: St. James' Park deal?

As per Football Insider, industry sources have claimed that the North East club could bank as much as £30m annually from a ten-year sponsorship deal for St. James' Park.

Front-of-shirt and training ground sponsorship privileges could also be included, as they look to boost their income in order to help comply with Financial Fair Play (FFP) rules and regulations.

UEFA are set to introduce a new system limiting clubs to spending 70% of turnover on wages, transfers and agent fees, with the Premier League expected to roll out a similar framework, so in theory the Tynesiders could spend 70% of the cash earned from a potential new stadium sponsorship deal in the transfer market.

The Latest: 'Huge boost'

Speaking to Football Insider, Plumley has claimed that the money generated from the potential sponsorship deal would be a 'huge boost' and a 'significant' sum that Eddie Howe's side could then go and spend in the transfer market:

“It’s a huge boost.

“I’ve heard rumours that it’s a ten-year deal. This is a significant amount of money over the long term.

“I think, even if you map this out against UEFA’s new FFP guidelines, which are a 70 per cent wages-to-turnover cost, this is still £21m you can commit off the back of this. That is before you take any other commercial deals into account.

“I’m not necessarily saying they would spend those numbers but that’s the boost it could influence the transfer market for Newcastle.

“I think it will be a slow-and-steady approach. I don’t think they will spend big every single window. But certainly, if you’re signing £30m-a-year naming rights deal and you can commit a certain percentage.“

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The Verdict: Get it done

If the Magpies can negotiate a ten-year sponsorship deal for St. James' Park, then there is no reason why they should not get it done.

Of course, it would give them a significant financial boost, and could help them in terms of trying to tackle FFP in the future when their project really kicks on to the next level.

Whatever sponsorship is discussed needs to be agreed with the supporters first, but if everyone is in agreement, then the Toon should be looking to get this deal done as soon as they can.