Abdulhafiz TeslimSimon Jordan has hit out at financial regulations that he believes are preventing Newcastle United from challenging the established elite of the Premier League.
The Magpies have been forced to sell some big-name stars this summer in order to continue investing in the first team, with Anthony Gordon and Sandro Tonali sold to Barcelona and Tottenham respectively for a combined total of almost £170m.
However, the loss of two key players has had a knock-on effect, with captain Bruno Guimaraes deciding to leave and joining Arsenal in a £75m deal, while head coach Eddie Howe stepped down last month.
Newcastle have invested in a series of young, exciting players, but expectations of Champions League qualification have been tempered ahead of the new season.
Meanwhile, Tottenham, who have finished 17th in each of the last two seasons, have been able to spend around £250m on new players, with Spurs’ revenue significantly outstripping Newcastle’s.
Jordan believes the current financial rules make it extremely difficult for clubs such as Newcastle and Aston Villa to break into the established Premier League elite.
> “I felt that Newcastle weren’t going to be in a position to challenge the legacy clubs because they’re not being allowed to,” Jordan told talkSPORT.
> “It’s grotesquely unfair that the Liverpools, the Arsenals, the Manchester Uniteds, Man City’s, the Spurs can spend as much money as they wish.
> “No one else can because they can generate the turnover because they’re now seeded. So Aston Villa and Newcastle can get on with it.
> “They can’t do what Chelsea did. They can’t do what Man City did, which was break up the orthodoxy of Arsenal and Manchester United.”
Jordan argued that Chelsea and Manchester City benefited from wealthy ownership before stricter financial regulations were introduced, allowing both clubs to invest heavily and quickly establish themselves among the Premier League’s elite.
> “You can’t build a team to challenge in perpetuity and be a top side. It is absolutely the fault of the Man Uniteds and Arsenals because they dressed up the idea of financial fair play as some governance to retain the sanity of the game and it’s nothing of the sort.
> “It’s unfair. It’s pulling up the drawbridge and saying to everybody else, ‘We’re in the room now and you can’t join’.”
Newcastle are now examining ways to increase their revenue, including the possibility of expanding St James’ Park or building a new state-of-the-art stadium.
A larger stadium could provide the club with increased matchday income while also creating opportunities to generate additional revenue outside matchdays.
Jordan’s comments highlight the financial challenge facing Newcastle as they attempt to close the gap on the Premier League’s established giants while operating within the current spending regulations.
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Abdulhafiz Teslim
