Jack Grealish cited as Newcastle United set for big changes after £144m PiF reveal – Kieran Maguire
Newcastle United have not earned enough through player sales since their Saudi Arabia-backed takeover so must change their transfer approach.
That is the view of finance expert Kieran Maguire, who spoke exclusively to Football Insider about Newcastle’s need to raise funds through sales to balance their Financial Fair Play figures.
The Tyneside club announced their 2022/23 financial accounts this month, revealing overall revenue of £250million and a post-tax loss of £73million.
It adds to the £70million losses recorded in 2021/22 during the first year of PIF-ownership, taking the club’s total losses to £144million over the past two years.
Club CEO Darren Eales admitted that Newcastle now must sell star players to avoid breaching financial rules.
Maguire believes Newcastle will not be ‘forced’ to sell players, but must start balancing their transfer business.
“Newcastle will not be forced to sell players in the summer window, but the whole point about a trading model is that it does involve buying and selling,” Maguire told Football Insider’s Sean Fisher.
“If the club does nothing but buy players, then it will have a bloated and disaffected squad.
“We’ve seen with the likes of Aston Villa selling Jack Grealish that player sales can be used to invest smartly in the market.
“The Newcastle PIF ownership have inherited a relatively clean slate since taking over Mike Ashley.
“As far as Financial Fair Play is concerned, a lot depends on how much money they want to spend in the summer.
“A lot of attention has been given to Chelsea spending £1billion on players under the Clearlake Capital/Todd Boehly regime.
“But what is ignored is that Chelsea have also sold a lot of players as well.
“So it’s about getting the balance right.“
In other news, Newcastle United told £50m+ bid for 26-yr-old could be accepted