Newcastle United’s January transfer window was dominated by talk of PSR.
It influenced every decision that Newcastle United made, with the Magpies opting against making any signings and strengthening their squad.
Instead, they actually got weaker. Newcastle sold Miguel Almiron to Atlanta United, while Lloyd Kelly was loaned to Juventus. That deal will become permanent in the summer, with the Magpies set to receive £20million for the defender.
While Almiron’s exit was always anticipated, Kelly’s departure came as a surprise. Newcastle have been opportunistic, taking the chance to move the 26-year-old on just a few months after his arrival at St James’ Park.
Stephen Warnock unhappy as Newcastle cash in on Lloyd Kelly

The deal made business sense, but it has actually angered former Liverpool defender Stephen Warnock.
He appeared on The Football Show on Sky Sports News on Tuesday morning, and was asked for his reaction to Kelly leaving Newcastle to join Juventus on loan.
“Incredible, it’s one that probably surprised a lot of people,” he said.
“I’m getting a little bit fed up of PSR in the fact of players now do not get an opportunity to even start their career somewhere, because it’s all about balancing books.
“Lloyd Kelly might have been trying to fit in on Tyneside and get settled at Newcastle. But before you know it’s ‘you’re going, we need to raise funds’. You’re thinking ‘you haven’t given me the opportunity to show what I can do, I don’t want to move, I want to be here’.”
PSR is making Newcastle do sell players they want to keep
Warnock is obviously not criticising Newcastle United. He is criticising the rules they have to adhere to.
Selling Kelly helps Newcastle’s PSR position, but it is another deal that Eddie Howe will not have wanted to do.
He only signed Kelly in the summer. While he had not played much, he was a valuable squad option who offered versatility. There could have come a time when he was required, while Howe probably had a plan for how to utilise Kelly.
Instead, he has gone after just six months. That was never part of the plan, and it has only become a reality due to PSR.
While PSR did not force Newcastle to sell Kelly, it was done for the sole reason of enhancing their financial position.
Kelly becomes the third player that Newcastle United have reluctantly opted to sell due to PSR. It happened last summer too, with Elliot Anderson and Yankuba Minteh forced out as Newcastle attempted to avoid a points deduction.
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