News today that Newcastle United manager Chris Hughton has been told that a wage cap of £30K a week will apply to all new signings.
Chris Hughton – wage cap of £30K/week
The Sunday Mirror is reporting that Mike Ashley has placed a new cap on the players’ wages while the club are in the Championship.
We wonder how many players outside of Newcastle, and currently playing in the Championship, get those type of wages – not many.
I mean how can these players survive, playing the game they love, on only £30K/week?
Sarcasm yes, but it’s about time we had some kind of control on the wages paid out at Newcastle, and hopefully that will also mean, that in special cases, we can break that ceiling for a special player – like another Alan Shearer for example.
But not while we are in the Championship, and are we the only ones who think this wage ceiling is fairly high for the Championship?
At the beginning of the season £750K was said to be the limit Mike Ashley would pay any new signings, and Peter Lovenkrands spent quite a while in negotiations before he accepted a lower than expected wage – which we thought at the time was around £750K/year.
Newcastle have shaved the wage bill quite dramatically from the £74M/year it was last season. Estimates vary, but it’s at least £35M that seems to have been cut from the wage bill.
A Newcastle source told the Sunday Mirror:
“Mike Ashley has had to take drastic measures to get the club back on even keel.”
“But Chris Hughton is well aware that he can’t hand out Premier League wages while the club are still playing in the Championship.”
“He knows what the budget stretches to and he has to work within that.”
If Mike Ashley is still in control of the club next season and we are in the PL, then we would expect the wage cap to be around £60K/week, or a little less – that’s around £3M a year.
As we’ve seen recently with Portsmouth, football clubs must get their financial houses in order, or else they will go to ruin, as Leeds United did a few years back. Byn the way, it’s great to see that famous club clawing it’s way back now – and they were simply magnificent at Old Trafford recently.
Newcastle can still do quite well with a salary cap in place, as long as we continue to bring in good young players to the club, and continue our quite successful youth policy. Investments will be needed to build up our world-wide scouting network.
We’d still like to see a couple of youngsters signed in the January transfer window, as well as a right back, center back and striker for the first team.
We continue to live in hope .