Kieran Maguire: ‘They’re all jealous of Newcastle’ as contract rubber-stamped
Premier League clubs are “all jealous” of Newcastle United and are using their collective power to rein in the Magpies’ financial headstart.
So says finance guru Kieran Maguire, speaking exclusively to Football Insider after last Tuesday’s (14 December) meeting of top-flight clubs.
The main takeaway from the meeting was the introduction of new rules to combat inflated related party sponsorship deals.
But, as per The Times that day, new rules have also been passed that enforce full transparency around salaries paid through associated parties.
This means the owners of mega-rich clubs like Newcastle will be unable to pay supplementary wages through sister companies.
Maguire claimed that, while the new contract measures are in principle a step forward, they stem from other clubs’ envy of Newcastle’s position.
“I think it is good for there to be more transparency,” he told Football Insider‘s Adam Williams.
“At the same time, players and managers are entitled to privacy in terms of their external earnings.
“Chief executives and football club owners have privacy in terms of where their money comes from.
“You only have to look at the owners of Man United who are registered in the Caymen Islands, a well-known tax haven, to see an example of that.
“Transparency is good but this does seem directly aimed at Man City and Newcastle by other clubs who are jealous.
“Now in the top-flight, the millionaires are jealous of the multimillionaires, the multimillionaires are jealous of the billionaires, the billionaires are jealous of the multibillionaires, and they are all jealous of Newcastle.
“So transparency is good but there is an awful lot of hypocrisy in terms of the wealth of the other owners.”
Newcastle have won just once this season and occupy 19th place after 18 games.
They face Man United in their next match on 27 December.
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