Finance guru: Liverpool petrified by ‘limitless’ Newcastle wealth amid behind-the-scenes news
Liverpool want to tighten the Premier League’s spending controls because they are terrified of Newcastle United’s “limitless” wealth.
That is the view of finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about the threat the Magpies pose to the established order.
Newcastle became the world’s richest club following the Saudi Public Investment Fund’s £305million takeover in October last year.
But Financial Fair Play directives mean they cannot spend freely, and Uefa’s new system is set to make their mission of breaking into Europe’s elite even harder.
Liverpool chairman Tom Werner told the Liverpool Echo last Wednesday (25 May) that his club are fighting to strengthen Financial Fair Play rules.
The Fenway Sports Group big wig explained that Billy Hogan, CEO of the vanquished Champions League finalists, is lobbying the Premier League to move in this direction.
And Plumley explains that this is likely a direct response to Newcastle’s new-found riches.
“I think ‘strengthen’ probably means tightening in this context,” the Sheffield Hallam University expert told Football Insider’s Adam Williams.
“They know how powerful they are in the market and that they are more likely than not to qualify for the Champions League.
“They aren’t keen on other clubs trying to break into that top six. Newcastle are front and centre of this. If this was a world with no regulation, they could spend almost limitlessly.
“If you look at it purely on a wages to turnover basis, it benefits the big clubs. But if that is the extent of the regulations and there are no other regulations, it does leave the door ajar for other clubs if they can grow revenues quickly.
“So, it’s no surprise to see them moving in this direction.”
Liverpool finished 2nd in the Premier League in 2021-22, 43 points ahead of Newcastle in 11th.
The Magpies’ mega-rich new owners have recently sanctioned a pay rise for their non-playing staff.
In other news, ex-Premier League referee demands laws to be rewritten after controversial Fabinho footage emerges