Despite a revamping of Premier League financial regulations, former Everton manager Keith Wyness insists Newcastle United will still struggle to “break into the top six” on a consistent basis.
Speaking on the latest episode of Football Insider’s Inside Track podcast, the 66-year-old, who was CEO at Goodison Park from 2004 to 2009 and now operates a football consultancy that advises elite clubs, stated the Magpies “can’t spend like they want to” despite their massive Saudi funding.
Premier League teams decided on Monday (March 11) to implement new financial laws that will limit spending on wages and transfer fees to a proportion of a club’s total revenue, which is expected to be about 85%.
These new regulations will replace the Profitability and Sustainability Rules (PSR), which previously allowed teams to lose only £105 million over three years.
New Premier League rules will maintain ‘status quo’ – and keep Newcastle out, says Wyness
Newcastle qualified for the Champions League last season, but struggled in 2023-24 and were unable to spend in January due to a slew of injuries at St James’ Park.
Wyness stated on Football Insider’s Insider Track podcast that the new rules appear to maintain the status quo for the top six teams.They have the same protection as the other clubs who come forward.
“As an example, consider Newcastle. We all know they have a lot of money, but they can’t spend it as freely as they would want.
“It’s becoming harder and harder again for clubs to challenge the top six.”All we’ve done is increase the amounts to account for inflation and other considerations. However, it falls short of achieving the fundamental goal of developing a system that allows clubs to compete for and break into the top six.
“These new rules haven’t solved the underlying issue with Profitability and Sustainability Rules.”
In other news, Newcastle set the groundwork for a new signing while two stars depart.
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