Keith Wyness: PIF don’t want to pay ‘Newcastle tax’
Everton’s former chief Keith Wyness believes that the Saudi Arabian Public Investment Fund doesn’t want to pay a “Newcastle tax” for signing players.
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 – made it clear that PIF have been focusing on building a team ethic.
The north east giants are one of the richest clubs in the world, but haven’t flexed their finances with major signings in the way that many first expected.
Newcastle have instead been making strategic signings to bolster the squad slowly as PIF refuse to pay extra fees that other clubs expect due to their financial state.
Newcastle United don’t want to pay extra for players
Wyness told Football Insider’s Inside Track podcast: “I think quite rightly so they’ve focused on building a team and a team ethic.
“PSR has also been an issue so they’ve had to grow revenue streams at the same time.
“ The whole idea of not paying a Newcastle tax, if you like, because they’ve got rich owners, has also been part of the key issue.
“Not being seen to spend money recklessly otherwise people are just queuing up, whether it’s agents or other clubs.
“They’ve done it sensibly and they’ve tried to make sure that sort of thing doesn’t happen.”
In other news, Exclusive: Newcastle laying groundwork for marquee forward signing.
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