‘Bloody stupid’ - Eddie Howe and Amanda Staveley under attack at Newcastle United

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Simon Jordan has admitted he sympathises with Newcastle United for their financial situation - but slammed former co-owner Amanda Staveley’s initial post-takeover prophecy.

Jordan, who owned Crystal Palace between 2000 and 2010, also doubled down on his belief that Eddie Howe will be a “gatekeeper” at St James’ Park. The Magpies have hit a ceiling three years into the Saudi-backed project.

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FFP/PSR restrictions have prevented the Public Investment Fund from transforming Newcastle into a European powerhouse overnight. In previous years, the likes of Chelsea, Manchester City and Paris Saint-Germain were able to spend freely, with regulations not introduced until the 2011-12 season.

Those fans partying outside of St James’ Park three years ago may have expected a similar trajectory - but FFP/PSR has hamstrung the Toon boardroom. Staveley - who departed in the summer - promised a Premier League title within five to 10 years but Howe realigned that target last month.

Former Palace owner Jordan, while labelling Staveley as “bloody stupid”, has questioned how the Magpies can break into the elite under the current rules. He told talkSPORT: “I do like Eddie, and I think he's a good manager. Ultimately, I've always believed he might be a gatekeeper. 

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“But the problem for Newcastle is, how do they break the cycle of being able to invest in their side, to compete with teams that are (at the top). Most of the other teams have got much more revenue. Liverpool, Manchester United, Manchester City and Arsenal have got £500million turnovers. 

“Newcastle can't grow because they can't buy and, when they do buy, they make a horlicks of it with (Sandro) Tonali. I find it a difficult one for Newcastle to square because they never said this themselves. Amanda Staveley may have been ill-advised on what she said. She put together a deal, and well done her. 

“She made a lot of money out of other people's money. Fair play to her, that's a great business deal, but when she spoke about what Newcastle were going to do, I thought it was bloody stupid because you're putting yourself as a hostage to fortune and the walls don't allow for it.

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“How are they going to do it (challenge) under the auspice of the current rules? How do Newcastle do what Manchester City did because, without an avalanche of cash, Manchester City wouldn't dominate English football.”

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