Richard Masters recently pointed to Newcastle United as evidence that the Premier League’s financial regulations are functioning as intended, but former Crystal Palace chairman Simon Jordan strongly disagrees with this assessment.
Jordan appeared on talkSPORT to deliver a scathing attack on the competition’s spending framework. Masters had cited both Newcastle and Aston Villa as clubs that have thrived under the existing financial structure.
Newcastle’s 2021 takeover by the Public Investment Fund undoubtedly transformed the club’s fortunes. Prior to the ownership change, the club had finished in the bottom half of the table for five consecutive seasons. Since then, they have achieved three consecutive top-seven finishes, secured their first major trophy in seven decades, and qualified for the Champions League twice within three years.
Despite their wealthy Saudi Arabian backers, Newcastle has still failed to bridge the gap to England’s established elite. Jordan delivered a pointed message to Masters regarding the strict regulations, arguing that more action is required to narrow the divide between the wealthiest clubs and the rest.
On talkSPORT, Jordan raised the question of how Newcastle could be expected to reach the level of Arsenal, Liverpool, Manchester United, Manchester City, and Tottenham if the argument is that anyone can win the Premier League.
He added that despite Tottenham’s struggles in recent years, the club was originally one of the top five founding members of the Premier League. He claimed the so-called Big Six exists because Chelsea and Manchester City were permitted to join and invest heavily, allowing them to compete with clubs that had built their positions over decades.
Jordan expressed frustration that clubs such as Newcastle and Villa, despite possessing wealthy investors, frequently must offload their best players or watch their managers depart for bigger clubs because they cannot make the necessary progression. This past summer saw Newcastle lose key figures including Anthony Gordon, Sandro Tonali and Bruno Guimaraes, which contributed to Eddie Howe departing the club.
According to Jordan, the Premier League’s leading clubs face no such constraints and can spend freely without concern for their financial balance. Host Jim White suggested the upcoming campaign would be the most competitive in history, though Jordan countered that this observation applies only to the top six rather than the championship race itself.
Jordan questioned why regulation would be necessary for the most commercially successful league in football history. He acknowledged Masters’ point about clubs wanting oversight and proper governance but challenged whether the current approach delivers acceptable outcomes, noting that clubs are now taking legal action against one another and that Manchester City remains in an uncertain position due to prosecutorial difficulties.
Jordan rejected White’s suggestion that he favours a return to the Chelsea era following Roman Abramovich’s takeover, when the club dominated English football during an unprecedented spending boom. However, he did propose that clubs should be allowed a window of unrestricted spending to attempt to close the gap on established powers.
When White cited Leicester City’s 2016 triumph as proof the current system can work, Jordan responded that relying on a single example across 34 years hardly constitutes evidence, particularly when that outcome appears unlikely to be repeated as existing clubs strengthen their positions. He described the current approach as restrictive and narrow-minded.