Newcastle United fans will be 'delighted' with PIF spending plan - Maguire

By Kieran Maguire

30th Apr, 2022 | 9:00am

Kieran Maguire: PIF to spend big and right decade-old wrong - 'Newcastle fans will be delighted'

Newcastle United fans will be “delighted” that PIF are set to ramp up academy spending after years of neglect under Mike Ashley.

So says finance guru Kieran Maguire, speaking exclusively to Football Insider about the new owners’ plans for the youth production line.

PIF are planning to invest heavily in the academy and improve the Magpies’ transfer sales strategy, as reported by iNews last Thursday (21 April).

The Saudi investment group took over from Mike Ashley in a £305million deal in October last year.

Ashley was criticised during his premiership at St James’ Park for a perceived failure to invest in infrastructure.

And Maguire insists that supporters will be over the moon to learn that a “decade” of under-spending is set to be brought to an end.

Subscribe to Football Insider TV now

“As far as Newcastle are concerned, there is a huge amount of catching up to take place,” he told Football Insider‘s Adam Williams.

“Mike Ashley was particularly parsimonious when it came to infrastructure spending in the last decade. They spent less than anyone else.

“It’s absolutely essential to utilise the academy in order to be competitive.

“If you’ve got three out of 11 players coming through the academy, that works out cheaper than if you’ve bought 11 players.

“It’s sensible mathematics but it is also true that Newcastle are also very proud of their region, so I’m sure the fans will be delighted.

“That emotional bond is strengthened when players are coming through the academy.”

Academy and infrastructure costs are exempt from financial far play curbs.

Newcastle, who are undefeated in four, face Liverpool today (30 April).

In other news, Nottingham Forest told to “milk every penny” for Brennan Johnson after Newcastle United update.