Former Everton CEO Keith Wyness has revealed that Premier League club Newcastle United “are right on the edge of the FFP regulations”.
Newcastle were bought by Saudi Arabia’s Public Investment Fund in October 2021 and have spent roughly £370million on new players since then.
Newcastle expulsion?!
The Premier League’s financial and sustainability criteria have prevented them from being as extravagant as they would have liked.
However, Wyness claims that the Magpies are still balancing their finances despite taking a rather cautious stance in the transfer market.
The possibility of Manchester City and Chelsea being demoted has been much discussed; this season, Everton and Nottingham Forest have also both lost points.
Earlier this year, Newcastle revealed a £73.4 million deficit for the 2022–2023 season, which is just under £3 million more than they lost the previous year.
Wyness asserted on the Football Insider Insider Track podcast that although Newcastle is on the verge of breaching financial regulations, they won’t be punished or docked points.
“I believe Newcastle are really on the edge of the FFP regulations,” he stated.
They’re going to be about alright, in my opinion.
“Considering that they were in the Champions League, Newcastle ought to have performed better financially in the previous year.
“They could have pursued sponsorship and other sources of income more aggressively.
Still, I think they’ll be alright.
As the new owners take the players through the league’s phases, there will inevitably be a player turnover.
“Maintaining them at the top of the league is a different phase altogether.”
Howe hates FFP!
Speaking in January, Eddie Howe, the manager of the Magpies, lamented the lack of financial equity, as the former head coach of Bournemouth was keen to add players to his roster during the winter transfer window.
Howe stated, “If we had been allowed to act, we would have brought players in already.”
“But we’re not in that position; as Newcastle CEO Darren Eales hinted to on Thursday, Financial Fair Play presents a challenge for us, which we must overcome.
That is our current situation. When does it start to cause issues? Although there is already one, we are attempting to get by.
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