Newcastle United's owners' latest cash injection is 'good for PSR'.

That is the view of football finance expert Kieran Maguire after a Companies House update revealed Newcastle's backers pumped a further £15m into the club following the sale of just a single share last month. The club made a series of similar filings between November, 2021 and October, 2024.

One such capital injection in 2022 was worth £70.4m following investment in the squad, a training ground upgrade, improvements to St James' Park and the hiring of a number of senior executives to build out the commercial operations of the club. CEO Darren Eales said at the time that the 'additional investment further enables us to continue implementing the business plan' and the club confirmed a year ago that the ownership group had since 'injected additional capital to improve the financial position of the business'.

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Maguire suggested the repeated investment of equity from the club's owners was 'better than the alternative of borrowing' as interest would, obviously, be payable.

"It’s £15m fresh cash almost certainly from PIF," he wrote. "Will be used to pay the bills, especially wages. Good news is that it’s not a loan so no need to repay and there’s no interest on it so good for PSR."

Although such investments improve Newcastle's cash flow position, the Magpies remain restricted by PSR rules. Eddie Howe has stressed it is about what Newcastle can do this month rather than what the black-and-whites want to do and various senior figures at the club have warned they do not want to find themselves in the situation they were in back in June after narrowly avoiding a PSR breach.