Keith Wyness, former CEO of Everton, has raised concerns about Newcastle United potentially breaching Financial Fair Play rules. In a recent interview on the Football Insider podcast, Wyness, who now advises elite clubs, criticized Newcastle for not maximizing their commercial opportunities, especially after qualifying for the Champions League.
The Magpies have faced restrictions on their spending due to FFP regulations, with manager Eddie Howe acknowledging the challenges it poses for the club under their ambitious Saudi ownership. Despite announcing a loss of £73.4 million for the 2022-23 season, Newcastle are nearing the £105 million limit set by the Premier League’s Profitability and Sustainability Rules, already exceeded by clubs like Everton, Leicester City, and Nottingham Forest.
Wyness believes Newcastle are teetering on the edge of FFP compliance but should manage to stay within the limits. He emphasizes the importance of improving commercial efforts to generate more revenue, suggesting that the club could have been more proactive in securing sponsorships and other income streams. While acknowledging the turnover of players as Newcastle’s new owners aim to elevate the club in the league, Wyness remains optimistic about their ability to navigate the financial challenges and sustain their progress.
