Newcastle United would-be owners have been potentially handed a massive boost ahead of the summer transfer window following UEFA’s decision to relax Financial Fair Play due to the impact of the pandemic.
Now confirmed: UEFA relaxing Financial Fair Play due to the impact of the pandemic, including postponing break-even assessments for this season
https://t.co/nRdcmpwTAw pic.twitter.com/rTOnfVUJF0
— Rob Harris (@RobHarris) June 18, 2020
Break-even assessments for this season have also been postponed and the decision allows clubs to spend without limit this summer.
Newcastle could soon be taken over by Saudi Arabia’s Public Investment Fund with the Premier League still considering what to do with their £300 million bid, and should it be approved, a spending spree could be on the cards.
Chelsea and Manchester City didn’t hesitate to splash the cash after their takeover years ago with FFP yet to be in place, and this could be the only opportunity the prospective owners of Newcastle gets.
Wealthy owners are now allowed to pump money into clubs to spend on transfer fees and player salaries with FFP out of the way, and it will be interesting to see how the summer transfer goes.
While majority of the clubs won’t be able to spend much, the Magpies could have a lot to spend once PIF is in power, and assembling a squad of mega stars could be on the cards.
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