Newcastle United have struggled to fully leverage the financial backing of their wealthy owners, and football finance expert Kieran Maguire suggests that the established order is resistant to the emergence of another club like Manchester City or Chelsea.
Newcastle United are pushing for a spot among the elite, but the established clubs are wary of this new threat to the status quo. This view was expressed by Kieran Maguire, a football finance expert, shortly after Manchester City challenged the sponsorship rules introduced following Newcastle’s 2021 takeover. Manchester City argued in an arbitration hearing that Premier League clubs enacted these associated party transactions (APT) regulations to protect their commercial interests in response to Newcastle’s new ownership.
Amanda Staveley has previously remarked that “nobody likes competition,” suggesting that other clubs will do everything possible to limit access to the Champions League spots. Despite this, Newcastle finished in the top four in 2023. However, they have not been able to fully capitalize on their owners’ wealth due to comparatively lower revenues.
Premier League clubs have agreed to trial new squad cost rules and anchoring regulations, alongside existing profit and sustainability rules. However, Maguire believes this won’t significantly alter the landscape for ambitious clubs like Newcastle.
“The purpose of Financial Fair Play, its latest form PSR, and the upcoming squad cost control regime, is not to create a level playing field,” Maguire told Football Weekly. “It’s designed to create a glass ceiling, preventing ambitious clubs from breaking into the top tier. Clubs already in the Champions League have a significant financial advantage, which they can reinvest into wages, maintaining their dominance. This system is presented as cost control beneficial for the game, but it mainly preserves the status quo.”
Maguire added that football’s issue isn’t revenue generation but excessive spending. The larger clubs are uncomfortable with the prospect of another Manchester City or Chelsea disrupting the current system. “Six into four doesn’t fit, so seven or eight into four is even more problematic, especially with clubs like Aston Villa or Newcastle pushing for those spots.”
