'100%' - PIF have already made £105m Newcastle United commitment ahead of the summer transfer window

PSR rules allow clubs to publish losses of no more than £105million over a rolling three-year basis. Newcastle came very close to breaching those rules last summer before agreeing last-minute sales of Elliot Anderson and Yankuba Minteh before the June 30 deadline.

Newcastle limited losses to just over £11million in 2023-24 and have kept things tight financially this season. And the club’s chief executive officer Darren Eales has confirmed the club’s Saudi Arabian Public Investment Fund ownership are ‘committed’ to spending as much as possible within the current rules.

“We have been clear on this, ownership has committed to spending to the maximum amount we can within the rules,” Eales said.

Darren Eales: PIF are ‘100% committed’ to Newcastle United

When asked to expand on PIF’s commitment to Newcastle, Eales added: “Yes, absolutely [committed]. I deal with them all of the time.

“We are talking about a stadium project. We have to define what that looks like. But whichever path we go down, that is huge investment that is going in.

“So the fact the ownership are taking that very seriously and looking to invest considerable sums shows their ambition. As for the training ground, we’re still making ongoing investments in the short term to our current spot.

“We are looking to the medium term for a new training ground. That again speaks to their commitment. Since the takeover, the rate that we have grown is unprecedented in football.

“The 32 per cent CAGR [Compound Annual Growth Rate] is more than any club has done before. Yes, we are limited by PSR in terms of what we can spend on the team. But things like the STACK, and all of those investments that come outside of that in terms of cap expenditure, that is still going in from ownership.

“From my perspective, and I deal with them day to day, they are 100% committed to Newcastle. That’s the exciting part, there is no change in terms of where we want to get to.

“The one thing we’d say is that we have to do that within the regulatory regime that is there. There is frustration by that PSR constraint. If it wasn’t for that, we could spend more on the team and accelerate our progress on the pitch.

“At the moment, the way we approach from ownership down - and everyone is aligned - is that we maximise our revenues and with that we spend to the max we’re allowed to, so we incur those losses of £105m over three years to give Eddie and the team the best possible players on the pitch that he wants.

“We’re in alignment in terms of how we build that squad. It’s frustrating because we want to go A to B in three years, but we can’t do what was done in the past.

“The days of an [Roman] Abramovich or Man City in the early days, you just can’t do that anymore. You can front-load the spend, but you have to pay the piper.

“We have to be strategic and say the way we’ve approached it is that yes, we got to the Champions League quicker than what anyone thought, but the most important thing after that was keeping our key players and that was the approach that we took.”

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