Newcastle United are set to sign Anthony Elanga for an initial £55million, yet Simon Jordan has admitted he feels sorry for the Magpies.
After two years without a major signing, Newcastle United are finally going to break the bank again. Elanga is set to sign for Newcastle United, with the 23-year-old arriving in the North East on Tuesday night.
The Magpies have agreed an initial fee of £55million with Nottingham Forest, which will make Elanga one of Newcastle’s most expensive signings ever.
It is a huge bit of business by Eddie Howe, who has not been able to strengthen his Newcastle United squad in recent transfer windows due to PSR.
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Simon Jordan goes on PSR rant as he admits feeling ‘sorry’ for Newcastle United
That is why Simon Jordan feels sorry for clubs like Newcastle United, as they aim to upset the status quo at the top of the Premier League. Their progress has been dented by PSR, while the ‘big six’ clubs continue to invest huge amounts of money due to their incredible revenue.
This does not sit well with Jordan, who namechecked the Magpies alongside Nottingham Forest and Aston Villa during a fresh rant on TalkSPORT about the Premier League’s profit and sustainability rules.
“I feel sorry for Newcastle,” he said.
“I feel sorry for Nottingham Forest. I feel sorry for Aston Villa because this is not what sport was confected to do. It was supposed to be if you’ve got an opportunity to be the best, you can be the best. If you can see the vision and you can get the vision, a lot of it is about money.
“Everyone else can do what they want: Liverpool, Arsenal, Manchester City, Man United. They can spend what they want because they’ve got PSR under control because they’ve got £600million turnovers.
“These clubs have not got that, so they can’t.”
The cruel way Newcastle United could boost their PSR position
The Premier League’s financial rules mean it is all about how much money you bring into the club, rather than how much money you actually have. In PIF, Newcastle United have the wealthiest owners around, yet that does not mean that they are the richest club.
If you have not got lucrative sponsorship deals or a global brand like teams such as Manchester United or Chelsea, the quickest way to increase revenue is by selling players. To go one further, it is even better to sell homegrown players who have come through the academy.
That is something that the Magpies are considering this summer. It has been reported that Sean Longstaff is expected to leave, and a move away for the 27-year-old would go down as pure profit. His future is up in the air, with reports earlier in the week claiming that Leeds are close to signing Longstaff. However, that may no longer be the case with Newcastle United rejecting a £12million offer.
It seems perverse that clubs are being encouraged to sell local players that they have developed themselves. That is not what football is about. Supporters want to see local lads represent their team, yet from a business perspective it makes more sense to sell them.
Newcastle’s PSR position will be enhanced if Longstaff leaves, which should give Howe more wiggle room to strengthen his squad. That is a positive, as the Magpies do their best to work within the rules that threaten to hold them back.
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