Newcastle United insiders have insisted that the club's stadium announcement later this year will be worth the wait.

Chronicle Live understands that a final decision has not been made on the location of a site away from St James' Park just yet and that the club remain in discussions with Newcastle City Council on their next move. However, as we reported on January 7 the club have had two potential capacities put to them for consideration.

A revamped St James' Park would see a new and improved capacity of around 60,000 while a switch to a new stadium could be around 70,000. The plans are now at a crucial stage and patience is said to be the watchword as the club close in on sharing the developments with the fanbase and the fan advisory board.

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This comes after speculation on Tuesday that a £1.2bn new stadium decision close to the existing site had been made.

What is now very clear on Tyneside is that an improved capacity and stadium will help generate the funds needed to compete on the field after three barren transfer windows in a row. Head coach Eddie Howe said last month: "Or income is key and talk of new stadiums and all those things that will benefit us in our pursuit of bringing more income. They will be really important for us as a football club. That's for another day. My focus as always on the next game."

The Magpies have bettered their numbers from the last set of accounts when they recorded revenue of £250million. The next set of accounts will read £314m according to Deloitte. Newcastle have also moved up the Money League by two places thanks to their participation in the Champions League which brought in a figure of around £28.4m for playing in the group stages and qualifying for the competition in 2023.

United are sitting 15th place in the Deloitte Football Money League table but remain some distance out of the top 10 with Real Madrid, Man City, PSG, Man United, Bayern Munich, Barcelona, Arsenal, Liverpool, Spurs and Chelsea ahead of them. Newcastle sit below Borussia Dortmund, Atletico Madrid, AC Milan and Inter in 15th.

A new stadium would help them challenge the top 10 of the wealthiest clubs in the world and improve their standing in the transfer market. Howe admitted only yesterday that he would love to see the PSR rules changed after Newcastle were left hamstrung in the January window on spending.