Kieran Maguire: Newcastle United handed £265m ‘advantage’ as summer spree begins
Newcastle United can spend big this summer as their wage bill is not close to the cap put in place by Uefa’s Financial Fair Play regulations.
That is the view of finance expert Kieran Maguire, who spoke exclusively to Football Insider about Newcastle’s projected revenue and flexibility in the transfer market.
Football Insider revealed last Wednesday (3 May) that Newcastle are on course to break their revenue record in 2023/24 with a turnover of £265million forecasted.
Their previous revenue record was £180m in 2021/22, but Premier League prize money, Champions League qualification and major commercial deals signed by the club this season will see them set a new record.
Should Newcastle protect their spot in the top four and reach the Champions League next season, they will have to abide by Uefa’s new financial sustainability rules which are set to cap spending on wages, transfers and agent fees to 70 per cent of revenue.
Maguire believes Uefa’s new regulations could be an ‘advantage’ for Newcastle as their small wage bill will allow them to spend big on new signings this summer.
“There is no doubt that Newcastle will have extra flexibility in terms of recruitment and retention of key staff following the success they have had on the pitch in 2022/23,” Maguire told Football Insider.
“You have to remember, however, that the Financial Fair Play rules at Uefa are different to the Premier League.
“To a certain extent, this could be a small advantage.
“They will have to adapt to the wage cap put in place by Uefa, but if their revenues do reach a region of more than £250m in 2023/24 then they will have plenty of flexibility.
“Although the wages are capped there is still plenty of room to grow it further and Newcastle fans will want to welcome new arrivals this summer despite being extremely proud of the players that represented the club this season.“
In other news, Newcastle United ‘provoke’ rivals as £25m Middle East deal agreed