Everton’s former chief Keith Wyness has claimed Newcastle United’s new cash injection will help them in the transfer market and stave off any financial breach concerns.
Speaking on the new edition of Football Insider’s Inside Track podcast, the 66-year-old – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – insisted the Saudi-backed ownership have run the Magpies “extremely well” since taking over in 2021.
Filings at Companies House show Newcastle have received a cash injection of £37million on 28 March through the issue of one share.
It is not the first cash injection from the club’s owners this season – with £60million in shares issued back in August 2023.
The new investment is a welcome boost for the club, who recorded a £73million in their 2022-23 accounts – which followed heavy losses of £71million in the 2021-22 accounting period.
£37m investment to give Newcastle a ‘boost in the transfer window’, says Wyness
Despite those heavy losses, Wyness has insisted that Newcastle “won’t be hitting the headlines” for breaching financial rules.
He told Football Insider‘s Insider Track podcast: “It’s an interesting number, £37million.
“It’s very specific, and that was for one share. I think they issued another share last year, and that was for £60million.
“Putting that much money into the club is to be applauded, and it’s obviously the right way to do it.
“I’ve always thought that since the new group came into Newcastle, they’ve run the club extremely well.
“It will help with their PSR situation for this season, and it will give them a boost in the transfer window – when combined with whatever they bring in through sales.
“I think Newcastle are going to be okay. They’ve taken prudent measures to make sure of it, and I don’t think they’ll be hitting the headlines with that kind of problem.”
In other news, five right-backs who could replace Kieran Trippier as Newcastle offer lined up.
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