Premier League exposed as Newcastle make latest rich-list - A farcical situation...
It has been revealed that Newcastle United were the 17th highest revenue-earning club in world football in the 2022/23 season.
It is a fact that many Geordies will struggle with. Not because of the money involved, but because of the fact that we are now supposed to believe that we are unable to spend it in order to satisfy outdated Premier League rulings on "sustainability".
As Deloitte published their annual Football Money Rich List, Newcastle entered the final week of the January transfer window knowing that they will have to sell players before they can bring in reinforcements.
We see the club having to resort to being a selling club, with the vulture-like European giants hovering over St James' Park in attempts to pluck our important players. First Bayern with Trippier, now Milan and Chelsea with Wilson.
The Toon earned more revenue than Italian champions Napoli last season yet pulled out of a loan deal for Kalvin Phillips this month because of Man City's demands of a £7m fee. Meanwhile, Chelsea earned around €580m in revenue in 22/23 but were able to splash the cash on a billion quid's worth of players.
The data shows Newcastle are a top performing club in Europe. It also shows the hypocrisy of the Premier League who protect the top six while leaving the rest of the league to search around the back of the sofa for the pennies to bring in a six-month loan.
"Profit and Sustainability" is the name of the game. But Newcastle are arguably one of the most sustainable businesses in the league right now, with 80% majority shareholders, PIF at the helm. It's something Alan Shearer argued himself on his podcast recently.
Under the League's Profit and Sustainability Rules, clubs are only allowed to make losses of £105m over a rolling three-year period. The Toon are now at the end of such a period.
These rules came into force a decade ago. Inflation has risen. Football inflation has risen even more exponentially. The market has evolved and £100m+ deals are alarmingly more common.
With points deductions touted for Forest and Everton this season - after Everton have already been docked points - it feels as though the rules are at a breaking point.
Sadly, the Premier League's attraction is also its downfall. The rich get richer off the back of signing the best players while the aspirational clubs are forced to sell their best players and remain in stasis. Unable to get a foothold in the top six, the clubs with aspiration are left to battle it out between themselves for one hint of a poor season from the self proclaimed big boys.
Newcastle United - 17th richest revenue stream in the world. No ability to spend while the Premier League protects its top six "assets".
At the very least, so-called PSR needs to be adjusted for inflation.
