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but because of the fact that we are now supposed to believe that we are unable to spend it in order to satisfy outdated Premier League rulings on “sustainability”.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.
It could be looked at that way, or it could be looked at like – what an amazing job the club have done to grow us to 17th as quickly as that 👏🏼.
It could also be looked at like – we’ve got the people in place that could grow us further by at least double – and beyond a January transfer window, that’s very exciting.
Why risk FFP grief now when there is such further growth & we can do it without getting into hot water 🤷🏼♂️ slowly does it 👍🏼.
Sharpy17(Quote)
You really do sound like a bitter little boy who just can’t understand why the rules have to apply to you.
It’s so sad.
Daveys **** mate(Quote)
Daveys****mate
Unfortunately the rules have been applied after the big 6 have escaped and built up revenues to make them almost untouchable, so the rule as applied is unfair for that reason although the principle of it is ok.
Sharpy17
Yes I agree with you but with a consensus of opinion growing that the FFP rules are not only outdated because of inflation but also the timing of it’s implementation and therefore offering the Big 6 no fair competition in the future I believe there should be a legal challenge as all of the Big 6 and other top clubs can just cherry pick from other clubs, we are not the only ones West Ham had to sell a prize asset as well.
Joseph(Quote)
It needs looking at that’s for sure
Porkpie(Quote)
How can a club with no substantial debt and lots of cash to spend be restricted when the top 6 who are 700 million in debt can spend what they like. What would happen if the debt was
called in? The people organising football are killing the game by trivial rules while lining their pockets!
Dante(Quote)
What do you expect when Rick Party is dancing to the FSG tune and the EPL overlooked the Glaziers fleecing Manchester United. Rules are fine when they govern every team equally, what they’re doing to Everton is disgusting when they overlook what has gone on with other teams because they finish higher in the league.
If they continue to p!ss about the premier league is in danger of shooting itself in the foot.
Andy Coverdale(Quote)
Thank Mr Ashley for the current situation. Our commercial revenue never budged in 14yrs while everyone else moved forward. We could and should have been in a much better position than we are.
That said, the new owners are making rapid strides, and although it won’t happen overnight, the future looks bright. Fan patience is the key.
Lambethmag(Quote)
Great article puts the problem in perspective .., the sustainability of protecting the top 6 is what this is about
Mike(Quote)