· 18 August 2025, 18:30
**Newcastle United are moving along the PIF's expected trajectory since the 2021 takeover, but it hasn't been as smooth a ride as we were all hoping.**
Amanda Staveley shocked the football world when she sat down and announced that Newcastle would be winning trophies within five years of the takeover, and yet here we are with a Carabao Cup trophy in our cabinet in just three years.
Staveley may have suggested title challenges were coming in that five-year period, which they may well have been if there weren't so many things stacked against us, particularly PSR.
Of course, the club has had some bad luck, made some bad decisions and struggles to actually put anything into action, too, which isn't helping, but the results on the pitch largely overshadow that negativity.
> [](https://twitter.com/5liveSport/status/1957446550327562406)
Newcastle have been held back by PSR more than any other issue
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But even with the club going through more Sporting Directors than players, the board dragging their heels with stadium announcements, etc, etc, the biggest issue Newcastle face in trying to close the gap to the top teams is PSR.
Profit and Sustainability Rules have kept the club with the wealthiest backers from being able to spend, which has, in turn, kept them from being as competitive as they could be. And it's not just Newcastle, it applies to Aston Villa as they are now in the same boat.
Newcastle just took advantage of Aston Villa's situation by acquiring Jacob Ramsey on a cut-price deal so that they can keep their books right.
Alan Shearer hits the nail on the head when talking about PSR
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Alan Shearer was on Radio 5 Live over the weekend, and the former Toon striker had plenty to say on the PSR issue, saying it's preventing competition at the top end of the league.
> "PSR doesn't sit easy with me. I don't like it because you can get to a certain point like Newcastle have, like Aston Villa have, and then all of a sudden there's a juggernaut in front of you. How do you get past that?"You look at the top four last year. Look what they've gone on to spend.
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> "Villa can and have got money, Newcastle can and have got money, they can spend, so it wasn't really brought in for that situation. If the laws and rules could change, where you have to put a leverage down and say 'we're willing to cover that', Villa could do that, Newcastle could do that. But in terms of the other clubs wanting them at the table now, clearly they don't because it's two other challengers who can take them on."
And that's exactly the problem. The cartel simply does not want more competition at the top end of the league because it threatens their ability to win competitions and, therefore, their ability to generate revenue.