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News
Newcastle have officially lost PSR insurance option as £63m announcement looms
One option Newcastle United could have executed to ease their PSR issues is no longer available to them.
The Magpies are scrambling to try and get within the Premier League’s three-year allowable loss limit of £105m in time for 30th June, when the PSR (formerly known as FFP) assessment window rolls over.
That has led Saudi Public Investment Fund-backed club to try and orchestrate quasi-swap deals to boost their player sale profits under the terms of PSR.
One player who was the subject of one of these attempted swaps with Everton’s Dominic Calvert-Lewin is £40m-rated Yankuba Minteh, who Newcastle are now desperate to get off the books.
Without player sales, Newcastle have no hope of avoiding a PSR breach – and the latest analysis from a leading expert explains exactly why.
Newcastle will announce £63m loss without player sales
According to world-renowned football finance writer , Newcastle are projected to announce a £63m operating loss in 2023-24 if they fail to pull off any player sales.
While Swiss Ramble stresses that this is an estimated figure, even a sizable margin for error points to Newcastle needing to generate significant profit from player sales to remain PSR-compliant.
The analysis found that the exact figure was £65m, although Swiss Ramble did acknowledge that the true amount could be smaller based on a number of variables.
Either way, Newcastle have to sell players.
And with five first-team stars of differing values among those who could be sacrificed, supporters will hope that the club’s negotiating team are busy behind the scenes as we approach 30th June.
Significantly, the latest claim from another football finance expert suggests that 30th June will be a hard deadline.
- READ MORE NEWCASTLE FINANCE NEWS: Newcastle owners PIF want £260m business deal that could produce the next Kylian Mbappe
Newcastle cannot change accounting date
Writing on , former Man City advisor Stefan Borson has claimed that Newcastle will officially be unable to change their year-end accounting date to give themselves more time to comply with PSR.
That is because the Magpies have already changed their accounting date in the last five years, in June 2022 to be exact.
Companies House does not permit companies to change their accounting date any more frequently than that, meaning that particular insurance option is not an option for the Tynesiders.