Newcastle sending Miguel Almiron to Saudi Arabia to skirt FFP
Newcastle is offloading fan favorite Miguel Almiron to Saudi side Al-Shabab. This makes Almiron one of the latest Premier League stars to move to Saudi Arabia. The move is not yet complete, but Almiron is open to the switch to the Middle East, according to reporter Ben Jacobs.
The sale of Almiron is part of Newcastle’s latest attempts to stay within the Premier League’s profit and sustainability regulations, encompassing financial fair play in the English top flight. Newcastle has one of the highest net spending records in the last five years among Premier League clubs. Having amassed a deficit of $530 million over five years, Newcastle ranks fifth in transfer expenditure. Only Arsenal, Tottenham, Manchester United and Chelsea, which has spent far more than any other club, have paid more on transfers since 2019.
Miguel Almiron’s sale helps Newcastle bring in more money to lower that transfer deficit. Newcastle CEO Darren Eales has admitted the Magpies must sell players in the transfer market to keep the side within the league’s boundaries.
“Any decision we make will always be against the backdrop of the medium to long-term benefit for the club,” Eales said. “It’s difficult to say specifically on certain players, but I can say that, if we’re going to get to where we want to get to, at times it is necessary to trade your players.”
Miguel Almiron departing Newcastle may be first of many moves
There is no fee reported yet for the sale of Miguel Almiron to Al-Shabab. However, based on Newcastle’s spending in the last three years, the moves may not stop with the Paraguayan. Miguel Almiron will bring in a fair sum of money. His exploits at St. James’ Park make him a commodity among clubs. Yet, there are other players Newcastle may sell who would rake in more money than Almiron.
For example, rumors are circulating that Newcastle may sell both Alexander Isak and Bruno Guimaraes. Newcastle’s losses over the last year are $93.8 million. Despite increased revenue, Newcastle spent $165 million in the summer to bring in new players. The key number, though, is the net loss of $93.8 million. Premier League clubs cannot have a net loss of $133.58 million over three years. Therefore, Newcastle is threatening to break those Financial Fair Play regulations.
Liverpool is in the market for Bruno Guimaraes while Arsenal wants Alexander Isak. Both of those clubs have checkbooks that can afford the two Newcastle stars. Also, Bayern Munich is targeting Kieran Trippier and Atletico Madrid wants Callum Wilson. Newcastle may not have a choice to hold on to the players, either. Keeping the transfer deficit runs the risk of the points deduction Everton suffered earlier in the campaign.
Saudi connections at Newcastle
Immediately, the sale of Miguel Almiron to Saudi Arabia raises concerns about a conflict of interest. The Saudi Public Investment Fund owns Newcastle, and the group owns several clubs in the Saudi Pro League. Namely, that features Al-Hilal, Al-Nassr, Al-Ittihad and Al-Ahli. This does not include Al-Shabab, which means there is no concern about multi-club ownership in this transfer.
PHOTOS: IMAGO.