Gabriele Marcotti explains why new Newcastle owners might have Mike Ashley to thank, £200m could be spent
Gabriele Marcotti has told ESPN thanks to Mike Ashley, Newcastle United’s owners could spend £200m without breaking Financial Fairplay rules.
Plenty of been chat has been had over whether Newcastle will spend big in January, and the next summer. Will they go crazy, or build slowly?
They have the money to do both. The Saudi Arabia PIF – which owns 80% of Newcastle – is said to be worth £320billion. Amanda Staveley is the face of it.
But there are unanswered questions over just how much Newcastle will be allowed to spend. FFP could be an issue if the Toon do go transfer happy.
However, according to ESPN pundit and journalist Marcotti, Newcastle do not need to worry. That is because of Ashley’s stonghold on the Toon coffers.
“UEFA’s FFP – they don’t need to worry, until they qualify for Europe,” Marcotti said. “The Premier League has it’s own version of FFP.
“It has different restrictions. But because Mike Ashley ran a profit some years, the club’s books are in very good shape.
“Theoretically, they could take a loss of £200million in their first season. But there are tighter FFP rules when Manchester City were taken over.”
Marcotti on Newcastle: New owners have Ashley to thanks for FFP
While it might be because Ashley chose not to put any funding into the Newcastle side, he ran a profit and that benefits the Toon going forward.
So, Newcastle fans’ frustration over the last few years over a lack of funding might actually now allow them to go big in the upcoming windows.
But do Newcastle spend big in January and next summer? Bringing in the best talent around? Or do they sign younger, potential talents.
A mixture is needed. Big players to get them out of a relegation scrap, alongside some future gems. The consortium have said the right things.