Time right to cash in
Our voice of the North
THE so-called richest club in the world ended the Premier League transfer window without a first-team signing because of Premier League cash rules.
The fact that Newcastle United could not strengthen their injuryravaged squad should be a huge concern to those running the league.
And with most other top-flight clubs squeezed into inaction by Profit and Sustainability Rules, I predict quick action to ensure the snoozefest that was transfer deadline day doesn’t happen again.
The rules, simply, have damaged the Premier League product.
TV companies pay billions to see a competitive league where anyone can beat anyone. There is added value having a newly rich challenger like Newcastle added to the mix.
But their ability to grow and offer a fresh rival to the established top-six elite is being stifled.
Newcastle has tens of billions of Saudi Public Investment Fund cash ready to guarantee any investment. With the PIF in charge, and on a longterm mission to make the Toon “No.1”, they won’t be leaving them in the lurch any time soon.
With a trillion-dollar nation state behind you, PSR rules designed to protect “community assets” from dodgy millionaires who overstretch their clubs and put them in peril of going bust don’t really apply.
What the Premier League needs to grow is an insurgent challenger to Manchester City, Liverpool and Arsenal to cement its position as the football competition the world wants to see (and buy).
What it’s got with the current PSR rules is a closed shop where a rich owner, who can afford to have a go and guarantee financial stability at the same time, is denied the chance to accelerate their progress.
New rules will be debated soon by the top-flight clubs during a two-day meeting. Remember they run the league by being 1/20th equal shareholders.
New proposals could see the £105million losses over three years limit scrapped in favour of proving they have working capital to deal with debts long term, and the ability to deal with financial setbacks if needed.
The last word...
JASON TINDALL stepped in for a sick Eddie Howe at his weekly press conference on Friday. He was quizzed about being nicknamed Mad Dog, about winding up opposition managers and about hogging the limelight in celebratory team pictures with his flashing teeth and tan.
But hearing Tindall, he came across as rather quietly spoken and demure. Does the public image match reality?