Newcastle United owners and supporters have been frustrated by PSR restrictions in recent years.
Former Crystal Palace owner Simon Jordan has doubled down on his belief that PSR is not fit for purpose.
PSR came under the firing line 12 months ago when Newcastle - despite having owners worth £700billion - were forced to sell promising youngsters Elliot Anderson and Yankuba Minteh. Failing to do so would have resulted in a possible fine and points deduction.
PIF frustrated by PSR rules
The main sticking point with Newcastle and supporters is how PIF have been unable to bankroll big-money signings. While expenditure has increased, the Saudi regime are “maxing out” their permissible limit rather than injecting unlimited riches akin to Manchester City and Chelsea from yesteryear.
For context, the Magpies are currently in their fourth consecutive transfer window without a significant first-team signing. NewcastleWorld understands Toon chiefs are working hard behind the scenes on several deals but are yet to find a breakthrough.
Simon Jordan issues scathing attack
Speaking to talkSPORT, ex-Eagles owner Jordan lashed out at the current system. He said: “I don’t think it serves the purpose that I might have envisioned initially it was brought in to do. I think all it does is maintain the status quo and change the direction of travel of something that’s ultimately been very successful.
“If you open the Premier League for business then you have opened it for business. Now to shut it again and suggest that you control it and control ambition? I’m not comfortable with it anymore. I thought as an owner it would encourage the reduction of hyperinflation on wages.
“It would control transfer fees. It has done none of the above. All it’s done is cement those that have already got into a position where those that want it can’t get there.”
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Darren Eales on PSR struggle
Toon CEO Darren Eales told reporters earlier this year that Newcastle are spending as much as they can within the PSR limit. He said: "If the rules weren't there we'd spend more. Because we are an ambitious ownership group that is looking to drive Newcastle to be sustainable and competing for trophies.
“Ultimately, we want to be winning the Premier League but we have to do it within the constraints of what we have. We are already committed to £105million of losses over a rolling three-year period.”
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