Finance guru: Newcastle owners PIF outraged by ruling body plan
It is no surprise to hear that the Newcastle United owners are outraged by plans to reformat the Champions League.
So says finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about how the expanded competition would favour elite clubs.
Uefa announced in May last year that the Champions League will feature 36 teams and nearly twice as many matches under a new format from 2024-25.
Newcastle are officially the richest club in world football following the £305million takeover by the Saudi Public Investment Fund last October.
But the financial fair play system means the Magpies cannot spend freely, with spending currently linked to clubs’ profit and loss accounts.
And iNews reported last Thursday (14 April) that Newcastle, West Ham and Leicester City have led protests in the Premier League against the reforms.
Plumley claimed that Newcastle’s ambitions over the next “five or six years” explain why they are fervently opposed to the Champions League revamp.
“It’s no surprise to see this,” he told Football Insider‘s Adam Williams.
“You can understand why Leicester and West Ham are there as they have gone really close in recent years in terms of Champions League qualification.
“Newcastle are looking to the horizon, to the next five or six years and where they want to be in the long term.
“We are seeing in the proposals how tough it is going to be to break into the elite. These reforms make it, not impossible, but certainly harder.”
Uefa are set to phase in a new financial fair play system from next season.
Clubs will be unable to spend more than 70 per cent of revenue on transfers, wages and agent fees.
In other news, Newcastle United in hotel talks over signing Rangers sensation Alex Lowry