Chris Waugh has explained how Newcastle United’s financial position has shifted dramatically after the record-breaking sale of Alexander Isak to Liverpool, even as the deal for Nick Woltemade is acknowledged inside the club as a gamble.
Responding to a supporter Q&A, Waugh revealed that Newcastle’s summer outlay of £241m — the highest in their history — pushed them close to breaching the Premier League’s Profit and Sustainability Rules (PSR). However, thanks to the £125m Isak transfer to Liverpool, which Newcastle insist is effectively worth £130m due to solidarity payments, the picture has been altered.
Once deductions for Real Sociedad’s 10 percent sell-on fee and around £30m in amortised costs are applied, the club still banked more than £80m from the sale. That figure counts in full immediately, while the cost of arrivals such as Woltemade can be spread across their contracts — for example, the German striker’s £69m fee equates to £13.8m annually over five years. Waugh wrote that this means Newcastle have alleviated short and medium-term PSR concerns and no longer face pressure to sell to fund squad building.
Waugh added that future sales would strengthen their position further, but wouldn’t be an outright requirement. Newcastle are expected to keep their main spending focused on the summer windows, as it has been the case for years on end.