Newcastle United's dream of playing European football has been made "so much harder" according to finance expert Dr. Dan Plumley. The UEFA executive committee approved new financial sustainability regulations at a meeting in Nyon last week, the first time since the introduction of the rules in 2010.
Clubs will be permitted to make losses of £49.96m (€60m) over a three-year period, an increase from £24.98m (€30m), but the impact of the new squad cost rule will have a bigger impact. The proposals will eventually limit the amount spent on wages, transfers and agents fees to 70% of club revenue.
The new regulations will come into play as early as June, but they'll be gradually rolled out over a three year period to give clubs time to comply so, in theory, clubs will be able to spend 90% of income in 2023-24, 80% in 2024-25 and, then, 70% a year later.
