I managed Newcastle United and this is the 'ridiculous' truth about PSR as Man United point made

Sam Allardyce has hit out at the Premier League's 'ridiculous' financial rules - which are 'restricting' former club Newcastle United.

Newcastle have spent upwards of £450m on transfers since the takeover, but the Magpies' rate of expenditure has slowed down in the last year. The punishments dished out to Everton and Nottingham Forest for PSR breaches have focused minds and senior figures at Newcastle have repeatedly stressed that the black-and-whites never want to be in the situation they were in back in June when the club had to scramble to raise funds to avoid a sanction.

Newcastle ultimately ended the summer in profit despite the club selling both Elliot Anderson and Yankuba Minteh with two months of the window still to go. Although Newcastle's draining pursuit of Crystal Palace captain Marc Guehi proved there were some funds available, Eddie Howe has since warned Magpies have to be 'really careful regarding our spending due to PSR' and that has left Allardyce frustrated.

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"Financial Fair Play - the stupidest rule ever brought into football," the former Newcastle boss told Seaman Says. "How can you not invest in your own business? What right have you got to stop me investing in my business? I think it's ridiculous.

"It's never ever been about Financial Fair Play because it's never been fair. When I played, Man United were richer than anyone else because they got bigger crowds and more sponsorship than anyone else so they had more money.

"Someone then comes from the rest of the world with their own wealth that they have earned and they want to invest it in football. Why not? It could spoil the Premier League if it carries on.

"I feel sorry for the fact a manager might come under pressure because of the restrictions on spending and evolving that football club even more like at Newcastle. Eddie Howe is now facing a period where they can't go and get a better player than what he has already got so that is [potentially] stopping Newcastle getting into Europe again, winning a European competition, winning the FA Cup. It's stopping him because the club can't invest because they are restricted. It's ridiculous."

Newcastle currently sit just a point off third, but Howe spoke last month about how his side were going to have to 'buck the trend' once again when, historically, the more a club spends on salaries in the Premier League, the more points they pick up per game. Eight Premier League sides had higher wage bills when Newcastle last qualified for the Champions League in 2023.