The 19-year-old was listed on Newcastle United Under-23s’ retained list last month as having been offered a new deal but there was no confirmation as to whether it had been agreed.
Now, on the full club retained list published by the Premier League, Stephenson is named as a contracted player for next season while his Under-23s teammates Matty Bondswell, Niall Brookwell, Will Brown and Joe Oliver remain listed as only being offered new deals, as per the academy retained list the club previously published.
The Gazette understands that Stephenson signed a new two-year professional deal at Newcastle towards the back end of the 2021-22 campaign.
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The Blyth-born forward scored 15 goals in 35 appearances in all competitions for Newcastle’s second-string side last season but is still awaiting his first-team debut.
It is likely that Stephenson will be sent out on loan next season in order to get some senior football experience.