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Kieran Maguire drops Newcastle United verdict after ban twist - 'It's the first time ever'
The fair market value assessment introduced after the takeover of Newcastle United is ‘sufficient’ and does not need more regulations.
That is the view of finance expert Kieran Maguire, who exclusively told Football Insider that he agrees with the Premier League clubs that voted against the ban on party-related deals.
All 20 Premier League clubs cast their vote last week on whether or not to ban party-related deals, including loan agreements.
If passed, Newcastle United would not have been able to sign any players on loan from Saudi Arabian clubs that share ties to their PIF ownership.
However, the ban was not introduced as only 13 clubs voted for the ban out of a required 14.
Maguire agreed with the vote outcome, explaining that the Premier League does not need to add new layers of regulation.
“I think the existing rules which say that any transaction in excess of one million pounds is subject to scrutiny by the fair value panel is sufficient,” Maguire told Football Insider’s Sean Fisher.
“We don’t need more layers upon existing layers because it just creates a bureaucratic beast, which is unnecessary.
“It was interesting to see some of the other clubs that voted to block this proposal.
“I think it’s also interesting that this is one of the first times ever that a proposal from the Premier League itself has effectively been rejected through voting.
“The Premier League is fractured and less united than ever before.
“I think that is the case, and it reflects the fact that you’ve got different owners with different aims and objectives all trying to work within the same framework.“
In other news, ‘I’m no Newcastle fan but…’, ‘Paid off by the big guns’ – Fans react to ‘corrupt’ Premier League development