Football finance expert Stefan Borson fired a PSR-shaped shot at Newcastle United on X - and it was a definite miss, according to those in the know.
TalkSPORT are known for employing all kinds. They’ve allowed Alan Brazil to froth and eventually fossilise on morning radio, given Punch and Judy - Jason Cundy and Jamie O’Hara - airtime in the evenings, they’ve even invited this writer on for various stints talking all things NUFC.
So, it should be no surprise their guests and regulars, from time to time, totally miss the point.. Now, not for one second am I suggesting Stefan Borson is a dafty. In fact, he’s definitely one of the more informed experts they get on said channel. But his latest comments on social media are far from his best - in fact, for a man who deals with them on a daily basis, he’s let speculation and bad judgement get in the way of the real story, according to those in the know.
Now, I’ve no idea where he does his PSR calculations for every Premier League team - maybe he has them all in a neat, organised spreadsheet like his more media friendly and palatable fellow football finance expect - and friend of NewcastleWorld - Kieran Maguire. Either way, he’s missed the point with his latest ramblings. And in doing so, sent some Newcastle United fans into an unnecessary frenzy. Some, like I, will have felt June 2024 PTSD.
This week he suggested that Newcastle United would have to make a sale in order to satisfy PSR calculations.
On X, Borson discussed the fact Newcastle United are due to pay Champions League bonuses, having become the first ever English team to claim a fifth Champions League place via their league position.
He said: “Multi million pound Champions League bonuses payable for 3 PSR-challenged clubs (sort of). Perversely, a welcome saving for Villa in 24/25 albeit with serious consequences in 25/26. Potentially an issue for Newcastle before 30 June and, in normal circumstances, would be an issue for Chelsea. But not post £200m women's teams.”
Borson doesn’t start off with a strong stance, but it is crystallised in the comments below.
He was then challenged by a fan, who said: “Eddie Howe has confirmed that nufc doesn't have any PSR issues .. possibly squad costs with uefa, but in terms of PSR, he said we were in a strong position.”
He responded with: “Going forward. Clearly tight for 24/25.”
The asked direct: “Newcastle need to sell then?”
He said: “Nothing major.”
Newcastle United PSR situation
This suggestion Newcastle had to sell, even if ‘nothing major’ in his words, then got us doing some digging. And it has been confirmed to NewcastleWorld that these comments are incorrect. In fact, they’re remarkably wide of the mark. Borson’s predictions are guesswork, plain and simple. And fans should not be worried, we’re told, ahead of the PSR deadline day, which comes to an ugly head on June 30.
Sources refute Borson’s stance. When posed with the tweet, a club insider said: “He’s incorrect. He has no idea when money goes in or out. It isn’t an issue.”
Obviously, time will tell whether that guidance is right and whether Borson has a point. But given the fact this publication has been advised publicly by Eddie Howe recently and this writer similarly so by Darren Eales earlier this year to the contrary, we’re of a mind to believe those in the know, not those searching for interactions online.
Borson went further in explaining his viewpoint when further challenged by fans.
He was posed with this analysis by one account. It said: “NUFC doesn't look tight to me. Looks like approx £25m headroom on 3 year rolling basis. PSR loss this year 2025 looks approx £35 m versus loss of £58m in 2022 (which is no longer in the rolling calculation). Tighter if hadn't sold Miggy and leant out Kelly. 5th v 7th adds 5.4m.”
He responded with: “If they had capacity, they would have spent in Jan.”
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