Alan Shearer says what he really thinks of PSR after Newcastle United’s transfer restrictions

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Newcastle United have been held back by the Premier League’s Profit and Sustainability Rules in recent transfer windows.

Fans have grown frustrated at the lack of arrivals since last season, with PSR the main reason why spending has been so restricted.

Newcastle United were nearly hit with a points deduction for the 2024/25 campaign when it was revealed that there was a £60m black hole following heavy spending in previous windows. While Toon boss Eddie Howe did not want to sell them, Elliot Anderson and Yankuba Minteh left Newcastle to balance the books.

The pair have performed well at Nottingham Forest and Brighton respectively, leaving supporters baffled as to how the club were not more attentive to the situation.

Sporting director Paul Mitchell has changed the mentality at Newcastle since his arrival last summer, with the club now set to make a more cut-throat approach to player sales and expiring contracts.

• READ MORE – Former Newcastle United players suffers relegation from the Premier League after major Eddie Howe fallout

The Magpies are in a much better position going into the transfer window, which opens in just over two months – fans are expecting several arrivals.

While Newcastle finish the season with a depleted squad, Alan Shearer has made his feelings clear on exactly why he does not like PSR.

Alan Shearer’s argument against PSR amid Newcastle United struggles

The January transfer window saw no new senior signings at Newcastle while two major exits were confirmed.

Lloyd Kelly joined Juventus, ending a six-month stint at Newcastle. The 26-year-old has had a hard time at his new club but recent results suggest that things could be turning around for him.

Elsewhere, Miguel Almiron rejoined Atlanta United, six years after leaving the MLS side for Newcastle. Almiron has performed well with Atlanta as they look for more silverware this season.

• READ MORE – How Fabian Schar’s new contract impacts Newcastle United’s centre-back plans, four targets named

The lack of signings has left Howe fighting with a limited squad, but the 47-year-old has defied the odds as of late, winning the last three games in all competitions.

On the Rest is Football, the topic of PSR arose which sent Shearer into a frenzy, immediately citing Newcastle in his argument against it.

“I don’t like (PSR),” Shearer said.

“If you use the words ‘profitability’ and ‘sustainability’, that’s what it says, isn’t it?

“Let’s use Newcastle as an example. They let (the PIF) in the league, they agreed everything for the owners to come in there. There are no other club that’s more profitable and more sustainable than Newcastle United, yet they can’t spend what they want.

“That, for me, doesn’t add up at all. So no, I’m not for them, I don’t like them.

“They were brought in for a specific reason, and that reason is not helping a lot of clubs do what they want to do.

“I’m not a fan of it, no. There needs to be a rethink of how and what makes it work.”

Newcastle United could land lucrative deals after Premier League ruling

While PSR has been a problem for Newcastle, the Premier League’s Associated Party Transaction (APT) rules have caused major problems off the field.

Amanda Staveley fumed at Premier League clubs when the rules were brought in shortly after Newcastle’s takeover in 2021, meaning they could not land the big-money sponsorships fans hoped for.

• READ MORE – £320m Newcastle United announcement exceeds ‘phenomenal’ Darren Eales prediction seven months ago

However, a recent ruling deemed the APT rules as unfit for purpose and effectively deemed them null and void. It has been confirmed that Newcastle can see the Premier League for compensation if they can prove that they missed out on lucrative sponsorships as a result of the rules being in place.

Newcastle are yet to sell stadium naming rights, a deal that would see them rake in a huge sum. There is a suggestion that the PIF were waiting to learn the ruling on the APT rules before making any announcements.

Any new sponsorships should now help the club in the transfer market, as well as boost their commercial revenue.