Keith Wyness, Everton’s former manager, believes Newcastle United’s recent cash injection will aid them in the transfer market and alleviate any financial breach issues.
Speaking on the latest episode of Football Insider’s Inside Track podcast, the 66-year-old, who was CEO of Goodison Park from 2004 to 2009 and now runs a football consultancy advising elite clubs, insisted the Saudi-backed ownership has run the Magpies “extremely well” since taking over in 2021.
According to filings with Companies House, Newcastle received a £37 million financial injection on March 28th through the issuance of one share.
This is not the club’s first cash injection this season; shares worth £60 million were issued in August 2023.
The fresh investment is a welcome lift for the club, who reported a £73 million profit in their 2022-23 finances, following significant losses of £71 million in the 2021-22 fiscal year.
£37m investment to give Newcastle a ‘boost in the transfer window’, says Wyness
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Despite the significant losses, Wyness has vowed that Newcastle “won’t be hitting the headlines” for breaking financial laws.
He told Football Insider’s Insider Track podcast: “It’s an intriguing figure, £37 million.
“It’s quite specific, and only for one share. I believe they issued a share worth £60 million last year.Investing so much money in the club is admirable, and it is clearly the proper thing to do.
“I’ve always considered that since the new group took over Newcastle, they’ve run the club exceptionally well.
“It will aid their PSR situation this season and give them a lift in the transfer window, when paired with whatever they bring in through sales.
“I believe Newcastle will be okay. They’ve taken precautions to ensure it, and I doubt they’ll make headlines with that kind of difficulty.”
In other news, five right-backs have emerged as potential replacements for Kieran Trippier following Newcastle’s bid.
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