‘Sad to see’ – Newcastle and Villa fans unite against PSR
Newcastle United and Aston Villa may have been fierce opponents on the pitch during the opening weekend of the Premier League season, but in the stands their supporters found rare common ground. At Villa Park, both sets of fans united in voicing their frustration at Profit and Sustainability Rules (PSR), rules which are increasingly dictating the transfer decisions of English clubs.
The chants of discontent felt all the more symbolic, as less than 24 hours later Aston Villa officially announced the sale of academy graduate Jacob Ramsey to Newcastle United. The deal, valued at around £40m, was technically regarded as “pure profit” for Villa because Ramsey had been developed in their youth ranks. Yet, for all its accounting benefits, there was no sense of triumph among Villa fans or players.
Club captain John McGinn, who has openly criticised football’s financial restrictions in the past, expressed his dismay by writing that such sales now “seem to be the way football is set up these days.” His sentiment was echoed by former Villa boss Dean Smith, the man who handed Ramsey his professional debut. Smith admitted it was “sad for the Villa fans to see one of our own go,” summing up the mood among the club’s faithful who had watched the youngster grow through the ranks.
The difficulty of letting homegrown talent go
This is not the first time financial regulations have forced clubs into uncomfortable sales. Just last summer, Newcastle were reluctantly pushed into selling Elliot Anderson to Nottingham Forest to balance their own books under PSR rules. Manager Eddie Howe admitted he was “uncomfortable” with the decision, but acknowledged that in the current landscape, homegrown players have become the most vulnerable assets—attractive to buyers and counted as pure profit for sellers.
Football finance expert Kieran Maguire explained the harsh reality: “It works from an accounting point of view. But it’s absolutely awful from a footballing perspective. Fans understandably feel betrayed, because homegrown players are more than just squad members—they represent a bond between the club and the community.”
From the outside, neutrals may question why clubs like Aston Villa and Newcastle—both backed by ambitious, wealthy owners—are forced into such deals. The answer lies in the financial ecosystem of the Premier League. Established giants such as Manchester United, Chelsea, Liverpool, Arsenal, and Manchester City benefit from enormous global revenues, allowing them to absorb higher wage bills without falling foul of the regulations. By contrast, clubs like Villa and Newcastle, despite their wealthy investors, must operate within tighter financial margins.
The figures underline the imbalance. According to recently published accounts, Arsenal (£327.8m), Chelsea (£337.8m), Manchester United (£364.7m), Liverpool (£386.1m), and Manchester City (£412.6m) all spent more on wages than Newcastle generated in total revenue (£320.3m). Aston Villa, meanwhile, had one of the highest wage-to-turnover ratios in the league and were even sanctioned by UEFA last season for breaching European financial rules.
Unai Emery’s team is now bound by a strict settlement agreement with UEFA, requiring that every £100m spent on incoming transfers must be matched by £100m in outgoing sales. Against that backdrop, selling Ramsey was not simply a choice—it was a financial necessity. Former Villa defender Neil Taylor captured the mood perfectly, saying: “It’s very difficult to see him leave. Jacob wasn’t just a talented player, he was Villa through and through, a reliable professional who respected the club.”
An Eddie Howe player
While Villa mourn the departure of one of their brightest homegrown talents, Newcastle see an opportunity. After three relatively quiet transfer windows, the Magpies have finally been able to strengthen, helped by the fact that earlier financial losses have now dropped out of their rolling three-year PSR cycle.
Howe’s side have missed out on several top targets this summer, while the uncertainty around Alexander Isak’s future lingers, but the club has still managed to add quality. New signings include Anthony Elanga, Malick Thiaw, Aaron Ramsdale, and now Jacob Ramsey—who happens to be a player Howe had long admired from afar.
Ramsey’s profile fits neatly into Howe’s vision. Last season, he ranked second in the Premier League for possessions won in the final third (15), highlighting his pressing and defensive intelligence. While Newcastle already boast depth in midfield, Ramsey brings athleticism, ball-carrying ability, and crucial experience in both the Premier League and the Champions League.
That said, there is room for growth. He recorded only six direct goal involvements in the league last season, but those who know him best believe he has more to offer. Former Villa team-mate Callum Rowe recalled how Ramsey “always had an eye for scoring goals” during their academy days, praising his knack for timing runs into the box—an instinct difficult to teach.
At Newcastle, Ramsey will have the chance to refine these attacking qualities under Howe’s coaching staff. The manager has a track record of nurturing English talent, with Anthony Gordon, Dan Burn, Lewis Hall, and Tino Livramento all making strides towards senior international recognition under his guidance. Ramsey, already a European champion with England Under-21s, is hoping to follow a similar path to the senior squad.
What comes next?
For Ramsey, staying fit will be the first priority after an injury-interrupted 2023/24 campaign. If he can do so, his former manager Dean Smith is confident he will flourish. “There is more to come from Jacob,” Smith insisted. “He’s very coachable and Eddie Howe is excellent with his players. He’ll fit right in at Newcastle because of his work ethic and skillset.”
Smith added that while his heart still wishes Ramsey had remained at Villa Park, he recognises that the midfielder is joining a club with Champions League football and one of the most passionate fanbases in the country. “He could thrive under Eddie,” Smith concluded. “It’s difficult for Villa to lose him, but he’s gone to a big club and he’ll handle the pressure.”
In many ways, the Ramsey transfer encapsulates modern football under PSR. For Villa, it is a painful sacrifice of a homegrown star to meet financial regulations. For Newcastle, it is a valuable addition at a time when they are building towards greater ambitions. For both sets of supporters, it is a reminder of how financial rules—not just footballing merit—are increasingly shaping the destiny of their clubs.