Claims of Newcastle United competing with Liverpool, PSG, Manchester City…think again

PSG, Liverpool, Manchester City, you could hardly have asked for a tougher set of fixtures for Newcastle United.

Eddie Howe and his players facing these three teams on a Wednesday – Saturday – Wednesday.

To top it all off, the trio of matches all away from home.

Three different competitions against PSG, Liverpool and Manchester City, with all three results having a potentially significant impact on Newcastle United chances of competing in the Champions League, Premier League and Carabao Cup.

So far it is one draw, one defeat and then Etihad to come on Wednesday night.

No surprise that the reaction to the matches in Paris and on Merseyside were respectively, largely positive and then overwhelmingly negative.

In the aftermath of these last two matches and in advance of the Manchester City one, I have read articles, headlines and mentions, about whether Newcastle United can succeed against these “rivals” across the various competitions.

The way it is portrayed, is that this is some kind of fair and equal fight, Eddie Howe and NUFC up against this trio of clubs (and others…).

It is anything but.

The Athletic ran a headline today (Monday 2 February 2026) declaring ‘Newcastle United’s dismal record against direct rivals is undermining their season’!

I wrote something a few days ago about the final Champions League table and comparisons to be made with the recently published Deloitte Football Money League 2026 report. The new Deloitte report had published the clubs in the world generating the biggest revenues, the latest available figures from the 2024/25 season.

As the table shows below, ten of the top eleven in the new Deloitte rich list are competing this season in the Champions League (the exception being Manchester United). All of those ten finished in the top eleven places in the Champions League table, almost as though there was some kind of a connection…

Deloitte Football Money League 2026 top twenty covering the 2024/25 season accounts for each club and the amount of their total revenues that season, then in brackets where each of these clubs have finished in the final Champions League table:

For Newcastle United, the rise in revenues from the 2023/24 to 2024/25 season, from the 2025 Deloitte report to the 2026 one, was a rise from €372.0m (£314.4m) to €398.4m (£335m).

An increase of £20.6m, a real drop in the ocean when looking at what other clubs are bringing in.

Clubs such as PSG, Liverpool and Manchester City.

Those three clubs are fourth, fifth and sixth in the Deloitte 2026 report and all three of them generated well over twice as much incoming revenues as Newcastle United did last season. This of course on top of all those other previous seasons…

Clubs such as PSG, Liverpool and Manchester City having more than double the revenues to finance their squads, via transfer fees and especially wages, as well all the other huge advantages they have stocked up over Newcastle United, especially a decade and a half of such minimal growth under Mike Ashley, whilst our “rivals” powered on.

When I see at times such over the top reactions to certain negative results and runs of form, from both media and Newcastle United fans, I find it difficult to understand.

We are all frustrated when NUFC lose any match but at the same time you surely have to accept how the odds are stacked against Eddie Howe and his Newcastle United squad. Especially this season when trying to compete in four different competitions, playing every midweek and weekend, then on top of that the injuries to key players piling up.

Clubs such as Crystal Palace (25th), Bournemouth (26th) and Brentford (30th) were all in the Deloitte top 30 and all of them are far far closer (€232m, €218m and €206m) to  Newcastle United’s €398m turnover last season. Than NUFC’s €398m is to PSG’s €837m, Liverpool’s €836m and Man City’s €829m.

These clubs can pay double the wages that Newcastle United can do, Erling Haaland is reportedly on half a million a week.

Newcastle United wanted to have Alexander Isak and/or Hugo Ekitike playing for them this season, they tried to sign Guehi and had claimed interest in Semenyo in the past, the reality is that ultimately those that can pay the biggest wages control things.

No coincidence either that the five home games that Newcastle United have lost this season, all to clubs that are in the top seven of the Deloitte 2026 rich list.

The Eddie Howe generated success on the pitch has been the key thing in increasing the club’s revenues since the takeover, winning matches, winning a trophy, qualifying twice in three years for the Champions League in particular, that has been pivotal for the sizeable increases in every area in recent seasons – Commercial, Matchday and Broadcasting.

It continues to be a huge struggle against the odds and I for one am just grateful that we have Eddie Howe in our corner.

Like any other manager he isn’t perfect, he makes mistakes, but he has got so much right. Including this season.