Newcastle United would stand to make at least €70m (£59.19m) if the Magpies manage to qualify for the Champions League.

That is according to football finance expert Professor Robert Wilson following the competition's switch to a Swiss style format. Qualification alone is now worth €18.6m (£15.72m) for each club and every win in the league phase brings in €2.1m (£1.78m). Even a draw banks €700,000 (£591,925).

Each position in the table generates €275,000 (£232,541) per place so the side that finishes on top in the league phase take home around €10m (£8.46m) as a result. Clubs who end up in the top eight of the league phase stand to make an additional €2m (£1.69m) bonus while those who place between ninth and 16th will receive half that amount. Reaching the last 16 is worth €11m (£9.3m).

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As well as the equal share qualification sum and performance-related bonuses, clubs are also entitled to a new value pillar payment, which is determined by the value of TV rights in the country a club is based in and a side's coefficient ranking, while European nights also bring in additional match day revenue. Newcastle CEO Darren Eales previously estimated that playing in the final season of the original Champions League format was worth £45m to the bottom line, but returning to Europe's top table could be even more lucrative for the black-and-whites as Wilson explained.

"There’s only so much Champions League money to go around - worth at least €70m per club from England," he said. "If Newcastle and Aston Villa join the party too, the finances of any big six side missing out could find it will result in a much more difficult transfer window and ability to fund player acquisitions to push on next season."

Newcastle are currently just two points off fourth, but finishing in fifth place may yet be enough to qualify for the Champions League. Two extra spots in the competition will again be awarded to the countries who have the most collective success in UEFA competitions this season at a time and England currently top the coefficient table.

However, Newcastle will just want to finish as high as possible as the picture will only become clearer in the final weeks of the campaign.