Kieran Maguire expresses ‘huge sympathy’ for Aston Villa after making £200m loss point

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Finance expert Kieran Maguire has expressed sympathy for the financial hurdles facing teams like Aston Villa and Nottingham Forest.

Villa, along with Chelsea, were fined by UEFA in July for breaching their financial rules.

The Midlands outfit were forced to pay out £9.5m and could still be fined another £13m if they don’t comply with the three-year settlement.

It’s not just UEFA that Aston Villa need to be wary of, though, as potential PSR issues at Villa Park have been lingering for some time.

Aston Villa on wrong side of PSR history

Finance expert Kieran Maguire has now discussed how teams like Manchester City and Chelsea were able to benefit from ‘no PSR pressure’, while clubs like Villa are on the wrong side of history.

Speaking on the Beyond The Back Four podcast, he said: “Villa, Newcastle, Forest, etc on wrong side of history.

“Chelsea under Abramovich, so wages skyrocket, no PSR pressure then, and same when Sheikh Mansour came into Man City. In 2011, Man City lost £200m and it didn’t matter as no cost control.

“Someone tries to replicate it, would be caught by the system. Cynic in me says the big six did utmost to ensure more didn’t join that group. Huge sympathy for Newcastle, Villa and others.”

Villa’s caution over breaching the Premier League’s finance rules was evident during the 2025 summer transfer window.

Despite playing Champions League football in 2024/25 and qualifying for the Europa League this term, they made just one signing over £1m.

The Premier League is going to move away from PSR, but Aston Villa may still struggle.

Will Aston Villa benefit from Premier League changing PSR model

The Head of Football Finance and Governance Content for GRV Media, Adam Williams, commented on how Villa could be impacted by PSR changes earlier this month.

On a move towards a system that looks more like UEFA’s Squad Cost Ratio rules, he said: “Per their last few sets of accounts, Villa are losing in the region of £140m at the operating level every single year. Even with European income and PSR-exempt costs, that’s a big shortfall you have to make up to comply with PSR.

“Under UEFA’s system – which the Premier League intends to mirror – you’re not allowed to spend more than 70% of annual turnover plus a three-year average on player sale profits on wages and transfer-associated costs. The Premier League’s proposed system is an 85% cap that follows the same principle.

“Will Villa be better or worse off under this new system? It’s hard to say, not least because we don’t have access to their most recent financials and won’t do until the spring. However, I think that’s largely immaterial because, for as long as Villa are playing in Europe, they have to get within UEFA’s 70% limit anyway. And, while there is a bit more flex under the European system, repeat offenders are going to be hit with financial and sporting sanctions.”

It was reported earlier this year that Aston Villa could potentially earn £60m from selling their women’s team to ease PSR concerns, just like Chelsea.

But that is a short-term solution to a long-term problem, with the Villains’ wages-to-revenue ratio of 91% for the financial year of 2024 highlighting much deeper issues for the Midlands club to address.