Newcastle United are being 'hampered' by 'historical issues' because Premier League clubs should be allowed to lose more than double what they are currently.

That is the verdict of football finance expert Kieran Maguire, who has long argued that PSR rules have hit clubs like Newcastle 'hardest' as permitted losses have not risen in line with inflation since the regulations were introduced 12 years ago. Newcastle, as a result, have been unable to fully maximise the backing of the club's owners because the Magpies have a huge revenue gap to bridge on the established order.

Clubs are currently trialling squad cost rules and top to bottom anchoring in shadow, but top-flight sides remain restricted to losses of £105m over a rolling three-year period. Aston Villa failed in a bid to raise this limit to £135m last summer and Liverpool chief Billy Hogan was among those who 'did not see the sense' in agreeing to that.

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Brighton CEO Paul Barber previously suggested that allowing greater losses was a 'bizarre concept' and 'not one that any of us should sign up to', but Maguire has calculated that the figure should nonetheless be higher.

"If we take a look at when the rules were introduced, you were allowed to lose £105m in 2013," Maguire told talkSPORT. "If you index-link that to the extra money that has come in to the Premier League since then, you should be allowed to lose around about £220m.

"So it does seem that Newcastle are being hampered due to historical issues rather than the ability to do exactly the same as we saw with Chelsea and Roman Abramovich and Manchester City and Sheikh Mansour. I can understand the angst and the unhappiness amongst Newcastle fans."