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For Newcastle United, navigating the Premier League’s Profit and Sustainability Rules is the defining issue of their current era. PSR limits Premier League clubs to losing a maximum of £105m over a rolling three-year period, as long as the bulk of that deficit is covered by an owner. Naturally, the eye-wateringly wealthy Saudi Public Investment Fund are prepared to bankroll the club’s losses, and CEODarren Eales has said that Newcastle will always spend the maximum allowed under PSR. Newcastle have sailed close to the breeze so far, only narrowly dodging a breach in the monitoring period up to…

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