NEWCASTLE UNITED will map out their financial future today by unveiling plans for a new stadium and a stock market flotation.

The club's owner, Sir John Hall, has made a huge investment in players in an attempt to achieve success at home and in Europe.

And the combination of a bigger stadium and a share issue would offset that outlay and pave the way for further big spending.

Newcastle's current home, St James' Park has a capacity of only 36,610 at a time when the club could probably attract the 5,000-plus crowds that watch Premier League champions Manchester United at Old Trafford.

A move to a much bigger stadium would enable the club to maximise revenue from ticket sales. It would also enable many more Newcastle fans to see their heroes live on a regular basis, a point stressed by Hall.

"We're very conscious that the kids can't get in," he said. "The next generation can't get into the stadium. We've been too successful."

Newcastle press officer Graham Courtney said yesterday: "We have got plans for a new stadium and tomorrow we'll say where we want it to go. But where it goes and what it's like is up to the council. If they don't approve the plans we'll have to think again".

Newcastle's preferred site for a new stadium is believed to be on Castle Leazes Moor. There have also been suggestions that a move out of Newcastle to a site in Gateshead could be on the cards, but there have been hints from the club that the intention is to stay within Newcastle.

As far as flotation plans go, a move to the market will put Newcastle in competition with Manchester United, whose shares hit a new high yesterday after news the company is to be promoted to the FTSE 250 index.

Hall had originally planned to float his ambitious scheme to create a sporting club - with basketball, ice hockey and rugby teams - along the same lines as the set-up at Barcelona.

But it is now thought only the football club will move for a full market listing, with estimates of a value for the club ranging between £140 million to £200 million.

Manchester City will safeguard the future of their Maine Road headquarters, even if they do seal a deal to move into the new stadium to be built for the Commonwealth Games.

The English First division club have been given a tentative offer to become "anchor tenants" in the 60,000-seater stadium to be developed across the city at Eastlands after the Games take place in 2002.

And even though City have welcomed the initial idea with open arms, they are also keen to confirm Maine Road will also have a part to play in the new millennium if the move takes place.

"Maine Road is safe as a sporting venue," said Manchester City chief executive Colin Barlow, who is still harbouring a sense of disappointment that the English Sports Council chose Wembley, ahead of Manchester, as the site of the new £210 million-plus national stadium.

"We were invited to become anchor tenants at the stadium when Manchester formulated its national stadium hid last October, and I was part of the bid committee.

"It was an idea that appealed to us and it's something we will be continuing with even though Manchester was not awarded the national stadium itself.

"But it's important to emphasise that Maine Road will not be closed. We feel that it would still be a viable sports arena, even if we did go to the new stadium."

Maine Road has been the home of Manchester City since 1923 and despite once housing a crowd of 84,569 for an FA Cup tie against Stoke in 1934 - a British record for any game played outside London or Glasgow - the ground capacity is now down to 31,000.

The club also has a training complex at nearby Platt Lane, a development which helped win them the Community Club of the Year award last year and they see no reason why their current headquarters shouldn't continue to flourish if a move is eventually agreed.

Barlow added: "Maine Road has obvious attractions. Rugby, for example, is now attracting millions in sponsorship and will need bigger venues.

"Moss Side also has many problems and better way would there be than to rejuvenate the community by making the most of the biggest icon in the area - Maine Road.

The bitter blow of losing out to Wembley was cushioned when the Sports Council revealed they would be handing over £60 million for the new Manchester stadium.

Barlow revealed: "There is a three-and-a-half-year building period for the stadium and after that is completed in January 2001, it will take another three months to fit it out.

"Talks between ourselves and the local council will now accelerate, but because of the time-scale involved, there is no great hurry.

"We will, of course, also be looking at all the commercial considerations to see if a move would serve our best purposes and how Maine Road would operate.