Leeds United hit by new financial ‘issue’ after big development – Keith Wyness
Former Everton chief Keith Wyness has slammed proposed new financial rules which could now penalise the likes of Leeds United and Newcastle United.
Speaking on the new edition of Football Insider’s Inside Track podcast, the 66-year-old – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – admitted the rule changes would actually benefit the Toffees.
Premier League clubs voted on Monday (11 March) to introduce new financial regulations which will cap spending on wages and transfer fees to a percentage of a club’s overall revenue – with that cap reportedly (as per Talksport, 11 March) set to stand at around 85%.
These new regulations will replace the Profitability and Sustainability Rules (PSR)- which had previously permitted clubs to lose only £105million over three years.
Modelling from Football Insider finance guru Kieran Maguire has recently revealed (via X, 11 March) that Leeds (if promoted), Newcastle, Fulham Aston Villa, Nottingham Forest, West Ham and Wolves would struggle to conform with the new rules.
Leeds United and six other Premier League sides in danger of financial rule breach
The Whites moved top of the Championship on Sunday (17 March) and are widely fancied to return to the Premier League for the 2024-25 campaign.
Wyness insisted the new rule change does not address the “root cause of the problem in football”.
He told Football Insider‘s Insider Track podcast: “The new levels in these new set of rules will certainly help Everton.
“We’ve still got to get through this season – and even past next season for the new stadium to open and revenues to grow.
“There’s still quite a way to go.
“But under the new rules, there are about seven clubs who would be looking at issues [Aston Villa, Newcastle, Fulham, Nottingham Forest, West Ham, Wolves and Leeds United – if promoted].
“Everton would not be one of those sides.
“But for me, these new rules do not get to the root cause of the problem in football. If an owner can prove they have resources, they should be allowed to invest in their club.
“I think that’s the key issue, for me.”
In other news, Leeds braced for multiple Premier League bids for star youngster.
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