Despite a change in Premier League financial regulations, former Everton manager Keith Wyness has said that Newcastle United will always struggle to “break into the top six.”
The 66-year-old, who ran a football consultancy advising elite clubs after serving as CEO at Goodison Park from 2004 to 2009, stated the Magpies “can’t spend like they want to” despite having significant funding from Saudi Arabia in an interview with Football Insider’s Inside Track podcast.
On Monday, March 11, Premier League teams held a vote to enact new financial laws that will limit wages and transfer fees to a portion of a club’s total revenue, which is expected to be approximately 85%.
The Profitability and Sustainability Rules (PSR), which allowed teams to lose only £105 million over a three-year period, will be replaced by these new rules.
According to Wyness, the new Premier League regulations will preserve the “status quo” and keep Newcastle out.
Although Newcastle struggled in 2023–24 and was unable to invest in January despite a plethora of ailments at St James’ Park, the team qualified for the Champions League the previous season.
Wyness stated on the Insider Track podcast of Football Insider: “With these new rules, it seems like status quo for the top six.”
They are equally shielded from the other teams’ advances.
“Take Newcastle as an example. They clearly have substantial financial means, to put it mildly, yet they are unable to spend as much as they would like.
“Clubs are finding it more and more difficult to challenge the top six.
“All we’ve done is raise the amounts to reflect inflation and other considerations.” However, it still misses the essential mark of developing a system that enables teams to contend and crack the top six.
“The fundamental problem with the Profitability and Sustainability Rules has not been resolved by these new regulations.”
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