Amanda Staveley calls for Premier League 're-think' after Newcastle United, Arsenal & Everton decision

Newcastle United co-owner Amanda Staveley believes the Premier League need to re-think their Profitability and Sustainability Rules (PSR).

Under current PSR, English top-flight clubs are permitted to lose a maximum of £105million over a rolling three-year reporting cycle, a figure Staveley admits it is "very limiting" after the Magpies were unable to make a permanent transfer in January.

Indeed, just £96m was spent by Premier League clubs in January with Liverpool, Arsenal, Manchester City, Chelsea, Manchester United and Everton joining Newcastle in not spending a penny.

PSR has never been more scrutinised and that led to all 20 clubs meeting in London on February 6 to discuss potential changes. Premier League CEO Richard Masters previously stated PSR could soon change and align with UEFA regulations.

UEFA's current Financial Fair Play rules limit clubs' spending on wages, transfers and agents' fees to 70% of their revenue. Meanwhile, clubs competing in Champions League or Europa League are permitted losses to lose £49.96m over a three-year period.

And Staveley wants to see a balance struck between sustainability and growth moving forward.

Speaking at the Bloomberg Power Players' summit in Jeddah, Staveley said: "We all have to do more to make sure we grow our revenues. There has been much more of a focus from the Premier League owners to make sure we grow our commercial revenues and our media, as a product, should be much more aggressive.

"There is a regulator coming in and there's much more of a focus on sustainability. Sometimes, when you over-regulate, you can slow growth and we have to make sure that we get the right balance between the right regulatory environment, the right rules and the right Financial Fair Play rules that promote growth. That's the only way you're going to get great football.

"One thing about the last few seasons in the Premier League is any club can win any game, and that's good. That means you get some incredibly exciting football...it's a difficult time because there has been so much focus on sustainability that people have actually forgotten that we're providing entertainment and we have got to grow this business.

"Football is difficult. You have very limiting Financial Fair Play rules. You have so many rules and restrictions about player purchases so it really does probably need some fresh thinking."