Key changes to financial fair play would lead to “limitless” Newcastle United spending if a PIF takeover deal was somehow resurrected. 

That is according to finance guru and Football Insider columnist Kieran Maguire, speaking exclusively after Gazzetta dello Sport first broke news that Uefa is contemplating replacing FFP rules in favour of a more relaxed expenditure system.

That would be good news for clubs with ambitious owners and near-bottomless wells of cash from which to draw.

Current Newcastle owner Mike Ashley saw a £300million deal with Saudi Arabia’s sovereign wealth fund PIF collapse in July last year.

Maguire claims that reform to current spending structures could propel Newcastle into the financial stratosphere in the event of a sensational PIF takeover reboot.

He told Football Insider correspondent Adam Williams: “Let’s say, for example, that the PIF deal gets resurrected at Newcastle. They could spend limitless amounts with the backing of the Saudi investment fund. Newcastle fans will be more than happy.

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“There’s always an element of self-interest in whatever decision is made. The introduction of FFP was self-interest from the elite clubs and its potential abolition is self-interest from clubs who have got owners with lots of zeroes in their bank account.

“I’d be surprised if this goes through simply because the existing elite clubs don’t want increased competition.

“If you’re going to allow some form of equity or debt-based investment, it’s going to allow an opportunity for a new Man City, Chelsea or PSG to potentially become competitive.

“That’s not the ambition of the likes of Andrea Agnelli and John Glazer, people who see football simply as a means of expanding exposure and wealth.”

A prospective Newcastle takeover would be impacted by the club’s perilous league position, with Steve Bruce’s side teetering on the edge of relegation.

The Magpies are two points outside the drop zone with nine games to play, though they do have a game in hand on Fulham in 18th.

In other news, several Newcastle United players are seething with Miguel Almiron following inflammatory comments made on a Paraguayan radio show.