Chris Hughton has talked this morning about how Premiership clubs, apart from Manchester City, are cutting back in their spending.
Chris Hughton – PL clubs are corralling their big spending
But that will not be too surprising for those readers who saw our report a few days ago about the financial state of many Premiership clubs.
The financial demise of Portsmouth hopefully will have brought some of the PL clubs to their senses, so they will not be spending money in the transfer money the just don’t have.
This is what Chris told the Newcastle Journal today:
“In general the game has changed. Apart from Man City in the Premier League everyone else is wary of financial change in the game. And Newcastle are exactly the same.”
“We have a passionate support who turn up regularly and want to see their team winning – and winning in a certain way. There is an aspect and understanding that this is a team who has been in the Championship now going into the top flight.”
“The expectations of where a team goes from the Championship to the Premier League is not as high as a few years ago.”
The big thing the Newcastle team will have next season, which we didn’t have when we were relegated, is the fight, guts and determination to win that the team has shown so often this season, and that has to be a big plus for the Magpies.
As far as spending goes the Manchester United and Liverpool managers are both to be handed big transfer funds to bring in new players this summer, in spite of them being in debt by £716.5M and £237M respectively.
One reason club generally are getting their financial houses in order is that Michel Platini, The French UEFA President will soon bring in new financial controls for European clubs which will basically have the clubs balance their books.
That means teams will only be able to spend essentially what they make.
Wow – what a concept – who thought that one up? 😀
We remember Charles Dickens’ Mr Micawber’s famous phrase for happiness in the David Copperfield book:
“Annual income twenty pounds, annual expenditure nineteen nineteen six, result happiness.”
“Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.”
Now we know why those proud Portsmouth fans are now very miserable.
But watch out for other PL clubs going under, unless they regain their senses and quickly.