Newcastle United badly hit by new finance rules development – Keith Wyness
Former Everton chief Keith Wyness has insisted Newcastle United will still find it hard to permanently “break into the top six” despite an overhaul of Premier League financial rules.
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 – claimed the Magpies “can’t spend like they want to” despite their huge Saudi backing.
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 – which will reportedly be 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.
New Premier League rules will maintain ‘status quo’ – and keep Newcastle out, says Wyness
Newcastle qualified for the Champions League last term but struggled in the 2023-24 campaign and could not spend in January despite a swathe of injuries at St James’ Park.
Wyness told Football Insider‘s Insider Track podcast: “All it seems to be, with these new rules, is status quo for the top six.
“They have the same protection from the other clubs coming forward.
“Look at an example, like Newcastle. We all know they’ve got big financial resources, to say the least – but they can’t spend like they want to.
“It’s becoming harder and harder again for clubs to challenge the top six.
“All we’ve done is increase the amounts, in keeping with inflation and other factors. But it still doesn’t get to the main point of getting a formula which allows clubs to challenge and break into the top six.
“These new rules haven’t solved the underlying issue with Profitability and Sustainability Rules.”
In other news, Newcastle lay groundwork for new signing as two stars leave.
For more Newcastle United and exclusive news, follow us on Facebook or join our brand new WhatsApp Channel for instant updates to be sent straight to your phone.