Stefan Borson impressed by ‘amazing’ Newcastle after big development
Newcastle United’s owners have done an “amazing” job since completing their takeover despite severe restrictions being put in place to block their progress.
That is the view of finance expert Stefan Borson, who exclusively told Football Insider it was an impressive achievement for the north-east giants to qualify for the Champions League with their wage bill.
Saudi Arabia’s Public Investment Fund (PIF), which bought Newcastle alongside the Reuben Brothers and PCP Capital Partners in a £305million deal, celebrated the three-year anniversary of the takeover on 7 October.
Eddie Howe has since taken his side from flirting with the relegation zone to regular contenders for European football, having qualified for the Champions League in 2022-23 before finishing seventh last season.
That is despite being restricted by the Premier League’s associated party transaction (APT) rules over the past few years.
But after Manchester City took legal action against the APT rules at an arbitration hearing in June, the independent panel ruled that aspects of the regulations were unlawful.
Newcastle were one of the top-flight clubs alongside Chelsea and Everton to have acted as witnesses for the English champions in the case.
Newcastle owners have made progress despite severe restrictions
But Borson believes the Tyneside club’s owners have made good progress despite those restrictions.
“It’s gone really well I think,” Borson told Football Insider.
“I know Newcastle fans might not necessarily see that, maybe that’s partly because the expectation levels were a little bit high.
“But I think given the context of the restrictions they have on PSR and associated party transactions, first of all to have qualified for Europe and secondly to have been competitive in the way they are, I think it’s an amazing achievement given their wage bill.
“They have also had a final, so I think they have done brilliantly.
“Of course, they would have liked to have been much more successful, but they were severely restricted by the financial rules that were in place.
“We know now after the decision this week those rules were very specifically put in place to stymie them.
“Against that backdrop, to have qualified for the Champions League is really quite amazing. But of course, they need the knock on.
“They were actually quite unlucky last season not to have qualified for one of the European trophies, so I think they have done amazingly well. “
In other news, Newcastle progress blocked as “civil war” breaks out.
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.