Newcastle have 'PSR issues once again' - they are going to struggle now
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Credit: Imago
Alex Oakhill
Sun 7 September 2025 12:10, UK
Newcastle United have once again been limited by Profit and Sustainability Rules (PSR) which has left them in a weak position for the new season.
The Magpies missed out on a number of transfer targets this summer, as the likes of Hugo Ekitike, James Trafford, Liam Delap, and Joao Pedro opted to move elsewhere.
To make matters worse, Eddie Howe’s side lost Alexander Isak to Liverpool, with the Swede forcing through his exit by refusing to play for the club.
Newcastle did manage to add Yoane Wissa, Nick Woltemade, and Jacob Ramsey, among others, as they looked to strengthen their squad in the latter stages of the summer.
However, Everton’s former chief Keith Wyness – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – believes the Magpies have had a disappointing window overall.
Newcastle have signed Woltemade [Credit: HMB Media/Heiko Becker]
This article contains exclusive comment from Keith Wyness, former Everton, Aston Villa, and Aberdeen CEO.
Speaking on the new edition of Football Insider’s Inside Track podcast, Wyness insisted that Newcastle will struggle as a result of their poor transfer window and have been unable to bring in what they needed to due to PSR restrictions.
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The Tyneside club had barely spent any money in the 18 months prior to this summer, but are still struggling to avoid financial punishment.
Wyness added that despite the Newcastle hierarchy staying positive, the supporters are not buying the idea that the squad has sufficient depth.
He said: “I heard Jamie Reuben saying that they felt it was a fantastic, transformative window.
Time will tell, but I think we’re going to see Newcastle struggle.
“Now they’ve got some big games in the Champions League coming up soon.
There’s got to be another way to work through PSR.
“If owners want to spend more money, put that money in a bond or some sort of way to guarantee it’s not the club they’re putting at risk, which is what the PSR issue was.
There’s got to be a way to try and let owners, if they genuinely have the money, spend it.
“For Newcastle, the focus has been on the Isak story, and there are a lot of questions they’ve got to answer.
I’m afraid I don’t think the fans in the Gallowgate are quite so sure of that.”
Credit: Imago
Meanwhile, Football Insider has revealed that Isak categorically did not “down tools” in an attempt to derail Newcastle’s Champions League bid last season.
Telegraph journalist Luke Edwards reported via X on 1 September that from April onwards, Isak was “behaving and playing like someone who did not want the team to qualify for the Champions League”.
However, sources say that accusations like these are simply “clutching at straws” in an attempt to discredit the striker’s name further.
In the end, Newcastle reached the Champions League anyway, securing a place among Europe’s elite with a fifth-place finish in the Premier League.
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