'There needs to be a rethink': Alan Shearer blasts PSR using Newcastle United's takeover as an example

If you've been reading NUFC Feed for a while then you'll be all too aware of our thoughts on the Premier League's Profit and Sustainability Rules (PSR), but in case you're new here ... we chuffing despise them.

Aside from maybe the Associated Party Transaction rules which were actually brought in to hinder Newcastle United's progress following the PIF-backed takeover, which has since been deemed unlawful by a tribunal, there is no rule that shines a brighter light on the Premier League's corruption than PSR.

Allegedly created to prevent smaller clubs from going bust, all it has succeeded in doing is ensuring that no other club can break into the top six cartel, even when that top six aren't performing anywhere near their top six status.

Look at the Premier League. Where are Manchester United and Tottenham? They're nowhere to be seen, and yet, financially, we aren't allowed to touch them, even though our owners could buy them out completely with the change they find down the back of their sofa.

Alan Shearer uses Newcastle as a perfect example of why PSR is not fit for purpose

On the latest The Rest Is Football podcast, former Newcastle man, Alan Shearer, has taken aim at PSR and it turns out he's not a fan either. Surprise surprise.

“I don’t like (PSR). If you use the words ‘profitability’ and ‘sustainability’, that’s what it says, isn’t it?

“Let’s use Newcastle as an example. They let (the PIF) in the league, they agreed everything for the owners to come in there. There are no other club that’s more profitable and more sustainable than Newcastle United, yet they can’t spend what they want.

“That, for me, doesn’t add up at all. So no, I’m not for them, I don’t like them.

“They were brought in for a specific reason, and that reason is not helping a lot of clubs do what they want to do.

“I’m not a fan of it, no. There needs to be a rethink of how and what makes it work.”

PSR in any guise just needs scrapping. If owners can't run their clubs properly, then that's on them

Shearer has hit the nail on the head when he says there's no club more profitable and more sustainable. As we just said, our owners could buy any club in the Premier League outright and barely even notice the money was missing.

We're all for protecting the little guy, but PSR isn't even doing that. Clubs will go through peaks and troughs when it comes to profits, and slapping a points deduction on a club for losing money is only going to put their league status in jeopardy, in turn decreasing their profits and worsening the situation - likely putting them at risk of bankruptcy.

The whole system is broken and not fit for purpose. The new proposed changes aren't going to fix things either. It's not helped that UEFA have their own rules, so if you play in Europe, you're also bound by their arbitrary laws.