As Newcastle United celebrate a hard-earned victory on the pitch, the hard work continues off it.
Newcastle are up to seventh in the Premier League after beating Nottingham Forest on Saturday night, as they continue to try and close the gap on the top four in a bid to return to the Champions League.
Competing in Europe’s elite competition is a real money spinner for Newcastle, at a time when they are being slightly hamstrung by the Premier League’s profit and sustainability rules. They stopped the Magpies from making any signings in January, at a time when they desperately needed reinforcements.
While the Newcastle owners come to terms with the fact that they are not allowed to spend as much money as they want on new players, a deal is being negotiated that will result in the club giving some cash away.
Newcastle officials involved in private meeting
According to the Daily Mail, Newcastle officials were involved in a private meeting between Premier League and Championship clubs to discuss a new deal with the EFL.
The 72 EFL clubs currently receive funding from the 20 Premier League clubs, and a new deal has been in the works to give the EFL clubs a stronger financial boost. However, that deal has now been delayed.
And that is why Newcastle were reportedly involved in a private meeting, that was arranged by Burnley chairman Alan Pace. The Daily Mail’s report states that representatives from Manchester City, Chelsea and more than 12 Championship clubs were involved.
The Premier League are yet to make an offer to the EFL, much to their frustration. It comes at a time when an independent regulator for English football is on the way.
There is a huge financial gulf between the Premier League and the Championship, and that gap continues down the Football League. That is why this deal is so important, and it is good to see that officials from Newcastle have been involved in trying to find a solution.
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