REV IT UP

Toon rake in £250m but FFP blocks a Saudi spree

- SIMON BIRD

NEWCASTLE have the richest owners in the world but are unable to get their wealth onto the pitch.

On one hand the Premier League wants competition, with fresh blood challenging for honours.

But on the other Newcastle’s accounts have revealed the handbrake Premier League profit and sustainability rules have put on their relaunch. This is no Manchester City-style splurge.

The good news is that Newcastle is growing rapidly – their turnover soaring to £250m after finishing fourth.

But the bad news is they are still hundreds of millions of pounds behind their top-six rivals, with City at £710m and even Tottenham £444m in their last accounts.

They can afford even greater spending, funded by their Saudi owners, the PIF, who have billions to invest and have already pumped in £127m in “new equity” since their takeover.