How much can Newcastle actually spend?

Try The Athletic for FREE for 30 days: theathletic.com/tifofootball
When the PIF, Amanda Staveley and the Reuben brothers bought Newcastle United in October 2021, they became the richest owners in the Premier League. By far.
But can they use that considerable wealth, like Chelsea and Manchester City did when they were bought out by incredibly rich owners? The answer is no.
Kieran Magure explains why. Illustrated by Philippe Fenner.
Follow Tifo Football:
Twitter: / tifofootball_
Facebook: / tifofootball
Instagram: / tifofootball_
Listen to the Tifo Football podcast:
The Athletic UK: bit.ly/TifoPodChannel
Apple Podcasts: bit.ly/TifoFootPod
Spotify: open.spotify.com/show/06QIGhq...
Watch more Tifo Football: Tactics Explained: • Tactics Explained | Ti...
Finances & Laws: • Finances & Laws | Tifo...
Tifo Football Podcast: • Tifo Football Podcast
Most Recent Videos: • Most Recent Videos | T...
1 Popular Videos: • Popular Videos | Tifo ...
About Tifo Football:
Tifo loves football. We create In-depth tactical, historical and geopolitical breakdowns of the beautiful game.
We know there’s an appetite for thoughtful, intelligent content. For stuff that makes the complicated simple.
We provide analysis on the Premier League, Champions League, La Liga, Serie A, Bundesliga, World Cup and more.
Our podcasts interview some of the game’s leading figures. And our editorial covers football with depth and insight.
Founded in 2017 and became a part of The Athletic in 2020. For business inquiries, reach out to [e-mail].
Music sourced from epidemicsound.com
Additional footage sourced from freestockfootagearchive.com
#NUFC #PriceOfFootball

[@harrymcmullen2227]

“Which is likely to raise eyebrows.” My eyebrows were in fact raised at this point, which gave me the brief feeling that I was being watched by Tifo, rather than the other way around. Brilliant (if a little spooky.)

[@Aaron19987]

Joe Devine has cameras in all of our bedrooms

[@SantomPh]

Joe emits theta waves

[@purplepillsification]

Was surprised by how low the percentage was but not too shocked as he’s involved in most companies that sponsor us, making money for himself rather than club

[@silvesta5027]

This is a good comment

[@bibtebo]

Seeing this comment whilst watching lead to real irritation when it was in fact very unsurprising and non eyebrow raising information

[@kurtmcfc1629]

Being able to absorb bad buys might be the single most underrated part about having wealthy owners.

[@efcdom1878]

Yup. Everton have done it appallingly and had too many bad buys to deal with and look at us now. 500m spent to go backwards

[@bob_bobsen]

Only reason Chelsea still compete. Their manager termination costs and failed signing costs would put most other clubs under

[@Bobby_sprinkles]

I get why FFP has been brought in. But given that clubs like Chelsea and Man City have already bought their success, surely that is keeping them in a place of power rather than allowing clubs lower in the PL to 'catch up'.

[@WilltheNinja]

That's what FFP was for in the first place, simply to defend United, Liverpool, arsenal etc.

[@kam67]

There’s the obvious positive of avoiding a Leeds situation, but yes, the obvious negative is that it makes it harder for clubs outside of the elites to compete because they had a massive head start due to being pre-FFP. I wonder if a better way would be to allow new owners a full summer transfer window to use their own funds, and then from that point on, FFP kicks in. Still, clubs without new owners could have a right to complain that new ownership shouldn’t be given an advantage over old ownership. Personally, I think FFP should be scrapped. A Leeds situation seems too rare of a thing to prioritise when the cost is other clubs forever starting a lap behind the elites. The whole idea of a European Super League with no relegation shows the elitism. It’s absolutely sickening.

[@dope4897]

@@WilltheNinja true

[@TheRadPlayer]

@@kam67 Sounds like the solution should be to set a hard wage-cap per season, regardless of the club's financials. Doesn't need to be a tiny amount of money either, even setting it to 100 million pounds per annum would only cause downsizing in *4* clubs.

[@SeanDelaney42]

@@WilltheNinja Exactly

[@BangableGoose]

Imagine having the 3rd richest owner and still not making champtions league. Being an Arsenal fan hurts

[@hegeliandianetik2009]

What does the owners wealth have to do with anything? The club is run on a self sustainable model bringing up the Kroenke accounts is silly 😂

[@thelonesoldier4518]

Toxic club

[@jeremey9818]

@@hegeliandianetik2009 I think he's expressing his frustration at the fact that Kroenke has the money and chooses not to spend it. For a billionaire, he's a cheapskate. That "self sustainable model" has turned them from perennial title contenders to barely making Europa League.

[@rashidkhalid3970]

Arsenal doesn't need a man city Chelsea style funding only help with 3 to 4 additional good players at most club can fund itself from revenue money but yes the owners have made all the wrong decisions over the years missing out on klopp quardiola now conte appointing raul sanelli edu

[@shraypuri4824]

@@jeremey9818 अर्सेनल ने transfer window में सबसे ज्यादा पैसे खर्च किए है dont blame owner

[@RandyMarshSP]

Lingard is surely top of the list, some cheap deals to be had with Barca, and the whole of Ligue 1. Isco is also out of contract and unlikely to be retained, Plenty of big serie A players out of contract as well, it’d have to be a snowball effect to get big names to agree to a relatively minor club though.

[@TheRockType]

Aaron Ramsey & Samuel Umtiti on free transfers then Jesse Lindgard & James Tarwoski for less than £10m each. Sorted

[@anmol3457]

newcastle united is far away from a minor club...

[@hsymdeen]

If you ask Tifo, there's a high chance Ibrahim Sangare will be included in the list. Granted, he's playing quite well this season from what I've heard and read.

[@lightning23100]

@@TheRockType Unfortunately this isn't FIFA so it won't be that simple.

[@rooneye]

Brilliant mate. Spot on.

[@TheJonesy0605]

You should probably review the source of those pie charts. Combined Villa's owners Nassef Sawiris and Wes Edens are worth around $10 Billion (forbes, 2021). Nassef Sawiris is worth over £6 Billion himself. That hasn't changed significantly this year, so it puts Villa roughly in the same region as Wolves and Arsenal. But Villa are omitted for some reason? Unless they are counted as the vast majority of that "Others" section...

[@kieranmaguire100]

Sorry about that, Excel excluded them from the pie chart for some reason I cannot work out.

[@wordsinahandle]

No liverpool?

[@librarygary1618]

@@wordsinahandle FSG are worth half of what Southampton and Leicesters owners are worth, something like 2.8 billion. Which makes our titles worth infinitely more than city's but everyone already knew that 😂

[@Ze_Moose]

@@librarygary1618 FSG? Do you mean PSG?

[@rayedaslam]

@@Ze_Moose he meant fsg. They are the owners of Liverpool.

[@Javadamutt]

Will be interesting to see how a relegation battle factors into everything. It certainly won't make January any easier. Being relegated would easily set the clubs progress under new owners back 2-3 years min

[@Yamah12a]

Hopefully

[@mikemyers2228]

🧂🧂🧂🧂bless ...the green shows😆😆

[@muchiosgracias4]

@@Yamah12a what's it like being a plastic with no connection to the club you chose?

[@Jay-ok1js]

2-3 years? If we go down we will come back up instantly

[@Javadamutt]

@@Jay-ok1js which will be the first year in the championship maybe picking up a few premiership quality players assuming they buy into the long term future, the second year will be fighting survival as most likely the owners didn't overspend in the championship or couldn't get their true targets and still can't attract the players they want or need. There is also a risk of still having not quite good enough players on wages that are too high to move them on creating dead wood. The second year will be aiming for a midtable finish at very best assuming the right squad was built the year before or there abouts before the building can be done in earnest. The third season aiming for Europe and starting to attract some names to make that push and sustain it. Compare that to surviving this year where you can start to build for midtable. You would hope that midtable, silverware or just outside Europe would be achieveable next year with the right selection of players as the current squad should be the min required for the premiership and hasn't had the wage bloating affect from money just yet. Still being in the premiership makes it easier to attract the player you need rather than rebuilding for the championship, then rebuilding for the premiership before building again for the push on Europe Never underestimate the affect backroom turmoil can have on a club. Coupled with massive changes in playing squad from decent players leaving and bringing in new players in a league that is very competitive. A bad run of form at the start of the season isn't impossible that leaves you chasing the leaders in the play off spots and failing to get promotion or worse, missing the spots altogether.

[@misterkunnyfunt]

00:47 really good illustration as to how massive this takeover was.

[@AzureSkyes]

Newcastle need to get a world class Director of Football and Manager in place first. Accept going down to the Championship for a year and take it as time to put in place a proper rebuild from the ground up. No real world class players will want to join them until the proper structure is in place for long-term success.

[@Iron-Bridge]

Exactly. The development needs to be run as an intelligent process, not like some impulsive trust fund recipient jetting to Spain once he's come of age.

[@Foxtrot6624]

Implying Eddie Howe wasn't the perfect signing? He's absolutely the ideal man for the job. Has a solid shot at keeping them up, and has proven time and time again he knows how to get team promoted if they do go down

[@bens4602]

From what’s been said, that is the absolute worst plan for them, and keeps them down, rather than let them up. They need to spend money from a time the business made profits recently, because they’ll likely never profit under the PIF. Any player who respects the bag will join them no matter where they are. Oscar moved to China for the bag as did Hulk. Newcastle, by contrast, is a respectable plinth to fall on.

[@anon11532]

we don't need world class players straight away just ones good enough for the prem

[@aldyrasyid]

@@Foxtrot6624 he doesn’t have the pull for world class players. It’s like the owners have accepted relegation and hired a man that’s good at getting promoted

[@Khatamoga]

Robinho and Adebayor won games for Man city. They’re the foundation Aguero was stepping on

[@dkexpat2755]

Just sign Santiago Munez, easy win.

[@ImmuneGEORGE]

They already have, he plays in the U23's! :P

[@bluecheese4877]

Well presented. Love the graphic showing Newcastle owners value as 83% of the PL total 😂

[@la7dfa]

I bet they are killing it in politics and such .. not sure how anyone can praise these butchers.

[@hurleycapetown8420]

Will be hard for Newcastle to attract top players in Jan because they will be rock bottom of the prem league,any player they sign must accept the fact that the next season they might be playing in the Championship and not the prem,there are no easy games in the prem league especially if you rock bottom,they will have to pay huge wages to get top players to commit to that in January.

[@rptree7186]

This aged well for Newcastle lol thrid most points in the prem since Jan with no blockbuster signings

[@GTM9164]

When you realize the likely combined net worth of everyone that watched this video wouldn’t even be 1% of 1% of Newcastle’s owners net worth 😬🤯

[@GTM9164]

Norwich owner's net worth 30 mil is 2 million less than 1% of 1% of the PIF 320 bill 🤯 but this totally won't unbalance an already top heavy league 😒

[@lucassams5639]

True mate im broke

[@MrBobsmith34]

A 1000th (1 per cent of 1 per cent) of the net worth is 320 million and the video currently has 151000 views, so as long as average viewer has a net worth of over 2115 pounds that is not true. A lot of viewers will have pension pots, home equity so I pretty sure that wrong.

[@MrBobsmith34]

@@shraypuri4824 1 per cent of 320 billion is 3.2 billion. 1 per cent of that is 320 million. a 100th is just 1 per cent, not 1 per cent of 1 percent

[@BySixa]

Im the queen

[@frankroughan9410]

Love the videos. I would loge to see a video on 5 a side tactics.

[@lfchjort]

Me: Looking at Newcastles commercial income being lower than Brightons Tifo: "Which is likely to raise eye brows" Me (realizing my eyebrows were raised): *lowers eyebrows*

[@danielkarmy4893]

"The PIF" - the Saudi royal family, that is, conveniently via the medium of the PIF so as to ensure the deal was approved by the Premier League.

[@kevinmccabe7263]

EXACTLY

[@michaelperry4563]

an episode on Everton would be intrueging. They have got so many players on big wages recently off the books, it would be interesting to see just how much that has saved and what it means in relation to how they can spend this season and the following season one each seasons spend expires.

[@paulquaife7974]

What ever the truth is on how much they can spend, the real truth is it wont be enough

[@carrington8999]

Man City signed a sponsorship deal with Abu Dhabi worth a couple of hundred million when they are owned by Abu Dhabi anyway there are ways around financial fair play rules.

[@uriustosh]

More than almost any other team in the league actually. There, saved you time.

[@JustanotherGuy-xx4gy]

As an Arsenal fan, 3 teams (including my own) having 50% of the PL's wealth prior to the takeover was a pisstake. But a sudden jump from 4% to 83% almost overnight is a joke as well.

[@blackhawk9601]

Lmfaooooo didn't Arsenal fans brag about being self sufficient. You lot deserve what you are getting

[@harambe656]

@@blackhawk9601 we consistently made top 4 while selling our best players and running in a profit ? We’ve spent more recently to try and catch up don’t see why we deserve this ?

[@lancechimese1715]

If you include kroenke’s wife arsenal are just as rich as the pif I think she just doesn’t get involved with his sports stuff She owns Walmart or is the next in line for the takeover Walmart is valued at around 300 billion

[@JustanotherGuy-xx4gy]

I forgot that a handful of mouthy arseholes speak for the entire fanbase.

[@JustanotherGuy-xx4gy]

I think that's where the heft of Stan's networth comes from, iirc.

[@kryptomaniac6517]

You should make a Video on Norwich City owners Wynn-Jones who despite being worth only 23Mil has spend over 12Mil with very little return and are largely responsible for the success of the club . They attend each and every match of the club sitting among the fans.

[@chailuvgidwani]

As funny as the “Mbappe in the Sky Bet Championship” jokes are it is really valuable to understand what kind of roadmap lies ahead for Newcastle under PIF ownership. Though per this explanation, financial room might be there, seems there’s a great degree of hostility towards the… err.. new Newcastle from other PL clubs that could make their January purchases even harder

[@a-walpatches6460]

Newnewcastle NEEDS to be their new official name!

[@mrmagpiepromotions]

@@a-walpatches6460 Newandimprovedcastle

[@headswillroll89]

What's explained in the video only holds up if the stay up, if they go down they get maybe 20mil to play from the league, I'm guessing it's close to 150 to clubs in the top league now, plus all the added revenue from sponsors, going down means they break ffp rules by signing the ox for 20mil

[@allangodi3041]

nufc is my club. av been a supporter since the days of shearrer. i cant wait to see the magic on january with the csh on our side

[@Writeous0ne]

but most likely you'll just end up an average PL team, money cant win titles in the PL anymore when its so competitive. you need the philosophy and backroom staff.

[@Bsznmsc]

@@Writeous0ne "money can't win titles in PL anymore" money the only reason City are winning so much

[@Writeous0ne]

@@Bsznmsc money is the only reason? nothing to do with pep guaridola being one of the greatest managers ever, or their recruitment being spot on? training, backrooms staff world class? look at man united, theyve thrown a billion pound at the premier league in the last decade and won nothing because they havent had the modern philosophy or coaches to build a dynasty. my point is if newcastle fans think theyll just throw money at the league in the next 5 years, it wont work. they need a clear philosophy and backroom staff. then even then theyre going to be competing with liverpool, city, chelsea, united, arsenal and the likes of west ham, liecster etc.

[@Bsznmsc]

@@Writeous0ne and how did they lure Pep in? A former Barca and Bayern manager wouldn't have gone if they hadn't the money or the success they got from the money. And how were they able to get the scouts and coaches? Money. All there recent success is centered around the Saudis, to deny it would be foolish

[@Writeous0ne]

@@Bsznmsc but money doesnt guarantee success is my point... you need the philosophy and back room staff not just money.... stoke city are worth 8billion, theyre in the championship wolves owners are worth 7 billion, theyre a mid table premier league team. i know the saudis are worth a lot more, but they can only spend the same amount as the mentioned above teams... dont think just cause newcastle can spend 300 mil a year it means theyre going to win titles. im willing to make a prediction now they wont win a title in the next 10 years.

[@Bruno-gj5vn]

5:00 That's not so "wacky" a rule as you might think, since ammortisation of investments over time is an international private accounting principle applied in most economic sectors.

[@kaihiggins725]

We will probs sign mercenaries looking for big contracts but giving bonuses on staying up to those big names creates a better incentive. Ramsey is also available (either us or leeds). I think a good window will keep us up due to how terrible the bottom half is this season (the fact we have 1 win and yet are still only 3 points behind them says alot). We just need to bench lacelless he has literally cost us 10 points by himself. Bench him and we will actually keep our leads but I aint worried about going down yet, not until we are more than 6 points behind in feb, Watford, Burnley and Norwich are very poor without the funds to sign those players who can keep them up. Loan deals with options to buy will also protect our FFP should the worst be the case and we go down

[@sarahjamieson4732]

Tifo produces such high quality interesting content. I love watching it.

[@liverpoolzul]

No Liverpool in the top 10? No wonder our owners are cheapskates 😂 They dont have the budget

[@biggieshakurjones7891]

And that’s proof u don’t need rich owners to be a good club chelsea and city are scum

[@rafaellopes6127]

I am prob making a bold claim but i see Newcastle spending more than 50 pounds this January.

[@john-adriancoker2789]

Newcastle must be shrewd in the transfer market and prioritize signing emerging English talent from the different tiers in England, academies, directly from EPL rivals & abroad in other leagues.

[@GarnachoEmpire712]

@@john-adriancoker2789 no because right now they need to get wins quick they need good experienced players academy players can wait till the summer

[@AlphaMaleMy]

and will still be relegated

[@espben360]

Mike Ashley at least kept the club, in a very healthy state financially. Somewhat of a parting gift. Some championship clubs (i.e derby) could do with ashley as their owner

[@kaihiggins725]

he could have been adored tho if he invested

[@GTM9164]

Norwich owner's net worth 30 mil is 2 million less than 1% of 1% of the PIF 320 bill 🤯 but this totally won't unbalance an already top heavy league 😒

[@jmpompey1]

They have to operate within the Fair play rules and this will only add more spice to the prem, but even now the premier league is the least top heavy out of La liga, Bundesliga, Ligue 1 and Serie A

[@GTM9164]

yeah you are right. I just worry if this is pushing towards being more like the Bundesliga or other top 5 league cause EPL is my fav bc they are less top heavy

[@jmpompey1]

@@GTM9164 Fair play rules will protect the uniqueness of the EPL, Newcastle is now the richest club in the world but we can only operate within the contraints of our revenue so the new owners can increase the revenue through sponsors like Aramco etc to an extent... and in a few years we will likely be in the top 4 but we're not going to get a Bundesliga scenario. It's a balance, we need competition in the EPL, but we also need our teams to be able to compete against the less restricted PSG/Real in the Champions League

[@norbertoavila6200]

In relationship with the new comercial & sponsor deals, if they are related parties they have to be in market value in accordance with Transfer Pricing Guidelines by the OCDE.

[@revistinha1]

As much as they want since City and PSG already tested the waters with the BS sponsorships to spend as much money as they want before and FFP didn't get them or will get any club with oil money ever.

[@TheAlphaDingo]

Wouldn't surprise me if the PL was trying to get Newcastle relegated. They didn't want to approve the deal until backed into a legal corner. 2 non VAR decisions for obvious penalty decisions (Odegaard rugby tackle on Schar and now Maddison's dive for Leicester) and it seems they are really not giving the club any fair treatment. Reports the other 18 clubs want to also now block sponsorship despite having their own sponsored benefits. Hypocrisy and corruption running supreme!

[@chriswilkinson7636]

I think Newcastle are trying to get themselves relegated judging on how poor they have been all season.

[@Cyanova1312]

They got away with a disgusting penalty shout on Dan James though, they even scrubbed it from the highlights.

[@ImBarryScottCSS]

Newcastle don't need a conspiracy to get relegated they are perfectly capable of doing that themselves thanks.

[@TheAlphaDingo]

@@ImBarryScottCSS trust me, Toon fans know where the club is at. 14 years of neglect, regression and abuse under a terrible owner hasn't left them in a good spot. There is a big mess and job to fix the club. But when you have 18 other PL clubs trying to stop them from using certain sponsors (despite some of those same clubs taking advantage of this in the past for their stadium naming rights or training ground name) AND you have certain big 6 clubs pulling the strings of Richard Masters and co to block the deal last year, that all points to anti competition and collusion. Essentially, it's corruption and it's illegal; and frankly wouldn't be surprised if the PL was doing everything they could to relegate the club to appease the greed of the other owners. Conspiracy or not, their is certainly growing evidence to the contrary that things aren't clean and above board here. The deal was only approved when the matters were taken to the courts and the threat of legal proceeding revealing dirty laundry - if the PL had acted honourably and without any malice, they would take this through the courts. Not to mention, the big 6 clubs who tried to stage a coup by joining the ESL only getting a slap on the wrist in punishment while other clubs in the UK like Derby are docked points and threatened with administration and extinction. Third party independent review is needed more than ever because the powerbrokers in charge are clearly not fit for purpose.

[@johndover3594]

They never should have the chairman is the crown price. It’s a state owned sugar daddy club

[@jackbell7852]

Very good as always 👏🏼

[@dcw127]

Fortunately Newcastle have been reasonable in the transfer market so far. Experienced players with value left in them. Bruno Guimaraes wouldn't look out of place challenging for Rodri's place at Man City, Newcastle got an absolute bargain there. Waiting until Burnley were relegated to sign Nick Pope was another smart move, must've saved millions. I hope Newcastle continue their savvy purchases rather than join the biggest clubs in football to inflate the market even further.

[@jomosezz3739]

If they got players who haven't gotten any minutes in the league so far on six month loan deals it would be a W. Holding and Martial would be a good start. They could then look to the Belgian and French leagues for a CDM, CB and RB to shore up that defence and rally a late comeback like they did last season

[@ryomawashere4032]

Newcastle need to hire Luís Campos as sporting director role. The man got great record in buying talented players for Real Madrid, Monaco and Lille.

[@robertmason6366]

Great presentation

[@TheRockType]

Good video. Well done guys! I do not think that the Everton problem will ever apply to Newcastle though as if they ever end up with a ‘high wage’ player who is no longer needed they would simply ship them off to another PIF owned club, probably in Saudi Arabia. To offload that specific wage.

[@InvaderZim742]

You say it like the player has no choice. Last time I checked, no premier league players are heading to play in Saudi Arabia.

[@TheRockType]

@@InvaderZim742 I know it’s Quatar not Saudi Arabia, but what about James Rodriguez?

[@haaduria32]

@@InvaderZim742 oscar says hi

[@sanket.hande9]

@@haaduria32 didn't he go to China instead of gulf countries

[@haaduria32]

@@sanket.hande9 yea after the post I realized that, still same point tho. Left the Premier League for a unknown league with high salary.

[@iwantgoals1566]

Newcastle need to learn from Everton and United. If they don’t want to be punished for spending all their money badly, they should worry about the structure of the club first. This makes a sporting director/DoF their most important first signing. Not only can a good DoF identify players that the manger needs for his system, he has good links to wider Europe and can help Newcastle identify those hidden gem type players. Plus has an overall direction and vision, a way to stop Newcastle from becoming the richest club in the championship.

[@Adrian-kc2tf]

Maybe they can hijack Rangnick next summer from United, he would be interested if they can assure him freedom to direct the club, rather than being mere consultant at Old Trafford

[@m.aununu.musaffa7466]

If ragnick that good... he didnt work at russian before this

[@andymina9561]

If newcastle go and raid wolves for traore and neves they wouldnt need to break the bank and it would greatly improve the squad

[@bens4602]

Coady has to be the Best Buy. Their CBS are woeful. Those two would definitely help, though. They should raid a lot of teams like this.

[@williamevans8409]

Neves yes, Traore don't see much benefit when we already have ASM (similarly exciting but actually has somewhat of an end product at times) and Almiron (who will happily run all game while also producing very little)

[@bens4602]

@@williamevans8409 when has ASM done anything of significance? He’d look out of place at Nottingham Forest.

[@williamevans8409]

@@bens4602 three goals and three assists in a poor Newcastle side this season to Traore's none. Have to go back to May for the last time Traore scored.

[@kevinmccabe7263]

Why would Traore and Neves leave Wolves for Newcastle? Any player will see that club and know that they will most likely be in the championship next year, which is going to make it impossible to recruit active premier league players like those two. They're best chance is getting high potential players who aren't getting playing time like Lingard.

[@ripjjjsphrbggsk6292]

damn this transfer windows gonna be wild for newcastle.

[@SamM.23]

Really good video.

[@RonaldNixiux]

The fact that football teams can be sold like that is concerning as to what the future of the game will be...

[@user-lq5yx1ke5k]

What I took away from this video is that Everton are a horribly ran club. 566M GBP in 4 years is over 140M spent per season and they're currently 14th, just shambolic.

[@amu7379]

their big money signings literally never work

[@man4437]

As a part-time Everton fan, I remember watching Klaassen and Sigurdsson come in and thinking "why do we need two similar players who we already know won't live up to their prices?". Same with Keane, Tosun, Walcott, Delph, Iwobi. I mean the fact that Everton even bought any of those players, even without hindsight on how they fared, is just bizarre.

[@fifabots]

140M a season and I think they got worse

[@VileCAESARB]

We weren't even mentioned in the funds list, spent 5 seasons asking for Benitez and this is what I get. Players performance bar the new boys is shocking.

[@kevinmccabe7263]

You're not wrong

[@clintstewart5545]

no wonder chelsea grew so quickly were no rules back then

[@SantomPh]

Back then the EPL was desperate for capital, with several clubs in the League falling into administration and chairman owners not investing in their clubs. Manchester United winning over 10 titles up to then also didn't help competition.

[@InvaderZim742]

Chelsea were already a top 6 club with high revenue before Roman bought them. One of the reasons he chose the club. Good location. Solid fan base and high revenue. As well as a desperate owner. In 2001/02 they were 7th in Europe behind only United, Juventus, Bayern, Milan, Liverpool and Real Madrid. They've been in top 10 for highest income since at least 1997/98

[@dalkeiththomas9352]

Chelsea was already a top 6 club, lol they came 4th the season before Roman bought them

[@cd6xc]

The 2nd graph is funny, sure. But it has to be taken into account that although City is registred as Sheikh Mansour property, he is part of the board of the Abu Dhabi Investment Authority (ADIA), which is run by his (royal) family and so the structure of the ownership can easily be seen as one with Mansour as the "front". ADIA has at least the same amount of investment of PIF, although the Saudi money is obviously bigger.

[@dipthongthathongthongthong9691]

How soon before they offload Eddie Howe? They ain’t recruiting world class from Spain, Italy, and prem rivals and then keeping him around.

[@James-gz8tb]

Do you agree with what you said 3 months on?

[@black_n_brown]

The financial fair play cap is so low ! Big established clubs keep their power while new rich clubs struggle to keep up. Each club in the premier League is about to have a rich owner but it'll still be city and Chelsea and United who dominate the 'transfer market'

[@bluecheese20401]

Expect the mercenaries will be lining up to join Newcastle now.

[@isiaharellano3789]

NUFC: "Look at me" **terrified Man City looks** NUFC: "I'm the new mercenary club now"

[@baddi25]

You mean footballers? Yes.

[@c.simmons2147]

I have a question. You said in the video that spending on infrastructure, the academy, and women's football isn't counted as spending, but do revenues from these count towards the profit? I feel like it can't be because that would open up a massive loophole, but even without it there are loopholes (if concessions during men's games are revenue, what about during a women's/men's game doubleheader?) and at least that massive loophole would result in better development in young men's and women's players in England.

[@superyid2010]

good point

[@redkiteplays8192]

i assume it would count towards revenue however womens football generates a relevantly small amount of money so wouldnt effectt the outcome that much

[@davidzheng369]

Newcastle might be regulated and build from there to get back into the premier league and become the next Leiceister city if they do everything right.

[@markodon1000]

The next Leicester City, a team of absolute underdogs that wasn't on anyone's radar? Yeah, not sure about that parallel...

[@Anderslaw]

Maybe the next Wolves lol, definitely never gonna be comparable to Leicester

[@Crevulus]

I was just thinking about this when I saw Tarkowski is apparently "too expensive" for them. Y'all are practicing some voodoo.

[@lewisbryant6786]

Surely we've learnt by now that FFP doesn't apply when you can afford better lawyers than UEFA.

[@dantespina7398]

In essence, don't be Everton, ever.

[@laernulienlaernulienlaernu8953]

Wow! Those 2 pie charts showed a BIG difference

[@danielbowers8124]

The city owners invested not only into the squad but the local area too, Newcastles owners will likely do the same. Strange that it takes football owners to do that and our own government wouldn’t do it. Because make no mistake that’s exactly what they’ll do, they’ll invest into the city and that’s how they’ll justify the blood money and Newcastle fans will accept it because it’s not like their own government care about them

[@danielbowers8124]

@Nob Gobbler the government waste money left right and Center, that money could be better invested into our towns and cities rather than into the pockets of their mates. I’m glad Newcastle are getting the investment, just like I’m glad Manchester got it I just think it should be our own government doing it.

[@sureshambani5627]

Newcastle should target quality players available for cheap. They should go for Andre Silva (RB Leipzeig) Dries Mertens ( Napoli) Icardi ( PSG)

[@user-wk4iw8gt8r]

Martial/A.Silva/P.Shick Sarr Cantwell Barkley Kamara Berge Wijndal Botman Dunk Tarkowski Max Aarons Nick Pope/Henderson or younger GK All realistic choices for their budget and rebuild prosess. After they can reach at least Europa League they can attract better quality players, even world class players and better manager. After Eddie Howe contract finishes Mourinho is also available from Roma lol. If he wishes EPL return 2 or 3 years from now he can come to Newcastle with his dream budget backing and salary. I expect Newcastle to challenge for UCL spot within 5 years and League title within 5 - 10 years. The first 3 years aim should be rebuilding club and squad and trying to finish mid table to that at least europa conference league spot if anything. Europa League would be great. It wont be easy because around 10 teams are competing for that european spot. But i am sure Newcastle will be successfull if they invest correctly and wisely. If City, PSG, Leipzig even Leicester owners did it so could Newcastle Arabs FC.

[@karabomarata1795]

Pulisic,Werner & Kepa

[@aced7439]

Who's smart idea was it to put the auto-gen captions in Vietnamese?

[@AzureSkyes]

😂😂😂

[@strangulator123]

This is not going to be a realty in the current state that we find ourselves in: despite, the incentive of exorbitant wages, no player already at a top club would want to play in a below par squad bereft of a proper identity on the pitch (No Isco, Barca benchers etc.). Further, we will struggle to get loan deals from "big 6" clubs with their current posture against us (No Lingard, Aké etc.). Additionally, selling players like Mee and Tarkowski to us would be the difference between Burnley staying up and going down, so I don't see it happening either. Alternatives would be to hire young players from the French, Belgian leagues etc. (e.g. Sven Botman) or senior rotation/bench players in clubs like Brentford (e.g. Jansson). This is a make-or-break transfer window for the future direction of the club.

[@aarthirajaraman7453]

bruh top six: 1.) city 2.) liverpool 3.) mu 4.) chelssea 5.) leicster 6.) spurs

[@waqcapital]

The write down of the players contract is of you use amortised cost in your example. But I think it would be perfect try acceptable to use Market Value too aswell.

[@rioikhtiar24]

In my opinion, newcastle need to recruit new technical staff, like sporting director or director of football or whatever first like Man City did

[@T4SelNiNO]

Eddy howe looking like ant n Dec in the thumbnail

[@Sojogososlow]

could you guys make a video on the conference league for brendan rogers?

[@josephmathabela]

*What's the name of the song?*

[@malcomflibbleghast8140]

think we need some italian defenders.....cut down the goal difference, for a start LOL. OR at least plug up the holes. Even loans from euro champions lge clubs could save nufc from the drop.

[@jakeharris1370]

Might want to check your graphic at the start, Everton’s owner is richer then Soton, Leicester and Mike Ashley

[@cezarmagicchess2679]

Plot twist : the new owners go full Mike Ashley and won't spend a dime on players.

[@Henry-uw5lt]

Omg what a crossover for me hearing one of my favorite channels say my favorite American footballs name

[@osmanahmed8519]

The error is about star with the interest of Lingard

[@badman5356]

£200m for Big Sam alone

[@gehanoates294]

In depth work 👏🏿👏🏿

[@samdilton2016]

One crazy sponsorship deal with one of the sister companies and the whole notion of FFP will go out of the window for the initial investment period. Thereafter the club can be run sustainably if the Saudis want to. Not that they would!

[@RyanMay94]

Exciting exciting times

[@oluwafemiajose948]

I won't pretend like I understood a word of all that finance stuff but this video makes sense.

[@pratyushsharma1178]

Tifo as usual with real in depth analysis!! Keep it up guys.

[@colouredIncognito]

'In depth'😂

[@coachhbosoccer]

They are often accurate than not dude, whatchumean?

[@hegeliandianetik2009]

@@coachhbosoccer accurate when relaying facts that can be easily found, never when trying to predict outcomes

[@kevinmccabe7263]

@@hegeliandianetik2009 OK, but who actually is accurate at predicting outcomes. The best you can do is a sensible analysis of available facts which TIFO excels at.

[@kryptomaniac6517]

But Newcastle City population is just around 3-400,000. Isn't much scope to expand like Man City and Chelsea had with Manchester and London . How would that be sustainable and even for an image building exercise in UK ,would it of any value to please a small city ?

[@jimboll6982]

Krypton maniac. You have little faith in the plastic passengers who tend jump on anything that is successful.. A few years back when Blackburn wen the premiership, their seemsd to be an explosion of Blackburn shirts worn . The plastics will always appear from everywhere. All sad fuckers like most who comment on the Toon being relegated. The Butcher boys are coming to chop into the so called big lads 😂

[@kryptomaniac6517]

@@jimboll6982 lol that might be true.

[@thisismeanas]

Cant clubs avoid FFP via overseas shell club that are not under FFP's purview e.g. get the Saudi's investor to buy a cheap 2nd tier Chinese club, buy players under that Chinese club, loan the expensive players to Newcastle or the actual main club at ridiculously low weekly wages with the remainder of the actual wage is 'subsidized' by the shell club?

[@elixirix]

nice idea

[@shazamkhan7771]

That is something that happened with that happened with City football group and their subsidaries in australia....

[@anata5127]

There is a way around, and ManC does it. Look at their commercial income. How can it be so high? Answer is Get state subsidized company (like Ethiad) to sign commercial deals with Newcastle and they can spend fortune.

[@kunalpatil442]

How clubs makes profits ? Or anything related ?

[@jadennyamukapa5642]

Mbappe may as well retire when he finishes his contracts till 2025 and buy Bolton. He’ll get em to top 8 with all that money

[@cashews1000]

Any pro player would be stupid to reject Ray Liottas offer.

[@asparapee4213]

So we can expect a local dry cleaner that is suddenly purchased by a second cousin to buy an advert in a gameday program for 14 billion. Then they buy Haaland, and Mbappe in the January window.

[@ebukahjoseph8016]

Amazing work Tifo

[@rakshitbisht3286]

Newcastle needs to buy quality striker like Santiago Munez.

[@KitsGravity]

Everton's non-targetted spending should be a cautionary tale to other clubs so as to avoid being overencumbered by massive wage bills and inability to sell players for any number of reasons. Spending lavishly does not guarantee trophies. Everton barely avoided relegation this season after all.

[@theaberrantcontrarian]

It's not always about the money. Spending away isn't the solution. There should be smart investment.

[@doctorstheory]

Considering the finances and money spent by Liverpool, it is the best club in EPL.

[@anthonypoll6483]

What I don’t get is why no one mentions Aston Villa, the 2 owners are worth more than Stan Kroenke at Arsenal

[@Bear_Love_Records]

The hundred million 'saved' by tight mike goes down year on year. I don't think they'll be able to buy big names in January and likely be relegated. That's then 1.5 years in to his £100m 'Saving'. The additional income from commerical is conjecture, given the new rules may well be in place by the time they're in the EFL.

[@TheeIdol]

I really don't see them going down

[@fudgerace4356]

Yeah, me too... people underestimate the power of money... Newcastle just need to be above three club to survive in the league...

[@aspectaerialimagery6288]

Sensible analysis

[@keithmason5584]

I was under the impression they could spend as much as they want but the wages bill has to be monitored to a limit ? 70% of income but that can be fudged with sponsorship deals , interesting 🧐

[@SiccazHD]

SENSIBLE TRANSFERS EPISODE PLS

[@anata5127]

What about salary? Salary will dramatically change; and it will affect spending power.

[@lwandomadikizela2213]

Newcastle United despite their new fond riches have a difficult task to sign players. The money is not the issue, the issue is which players wants to join a club that is in the relegation zone. It's not easy to sell players a project when a club could be relegated by May. If Newcastle United were to sign players, they have to do right. Chelsea and City took a while to get where they are now. On the other hand Everton spent poorly on players who are average or not good enough and can't offload them due to high wages hence they have gone backwards.

[@calzonie5763]

I’ve accepted relegation I’d like us to get young talent than 28 year olds like Coutinho or whoever else we get linked with

[@IVIRnathanreilly]

Shaq at Stoke had an £11m buyout clause that activated upon relegation. They can do something similar.

[@tubo85able]

Does sending those players that are "difficult to dislodge" on loan brings down the PSN?

[@13guns87]

As much as it takes while being under rules. Think that's about 180m. They need a team able to win games. They don't have to go crazy. Cover the basics areas they're going wrong. I know they've got just 1 win. Losing and drawing on small margin of error. Scored first vs Liverpool and man united. Over a lesser team, if they had some extra quality, they could hold leads and even increase the ones they get. They're not a bad team. They just don't have enough quality to see out or finish games. 8 draws. One game 3-3 think after conceding 90+6 lol. Can't hold a lead at all. Man united was probably best they've done.