By Kieran Maguire

26th Oct, 2021 | 4:00pm

Kieran Maguire: Everton in same position as mega-rich Newcastle after CEO update

There are “huge parallels” between Everton and Newcastle United.

So says finance boffin Kieran Maguire, speaking exclusively to Football Insider about similarities between the two clubs.

The Daily Mail reported on 16 October that Everton CEO Denise Barett-Baxendale is unhappy with Newcastle’s recent takeover.

She is understood to have voiced her concerns with Premier League chief executive Richard masters over the controversial £305m buyout.

The Saudi Public Investment Fund has assets totalling £363billion, while Everton owner Farhad Moshiri’s net worth is approximately £2bn.

But both teams must operate within the framework of financial fair play, which dictates that clubs must not drastically outspend their income.

Subscribe to Football Insider TV now

The Toffees have had to reckon with FFP of late and had a frugal summer transfer window in which they spent just £1.7million.

And Maguire explains that the two clubs face similar challenges when it comes to generating income.

“I think there are huge parallels with Everton and Newcastle,” he told Football Insider correspondent Adam Williams.

“Everton had a new owner that came in and bankrolled the club. It hasn’t worked out yet for Everton but they want to challenge the ‘big six’.

“Newcastle don’t have a global fanbase but people are aware of their history and heritage. Everton don’t have a particularly wealthy fanbase either.

“They are very much the ‘people’s club’. Similarly, Newcastle are associated with the shipyards and a staunch working-class area. They are the parallels.

In other news, pundit predicts Newcastle United could sign “tempted” Toffees star Dominic Calvert-Lewin in January after Telegraph update.