11 months ago
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NEWCASTLE’S move for Kalvin Phillips is OFF, according to reports.
The Magpies had been the favourites to take the England midfielder, 28, on loan.
PABut Newcastle’s issues with FFP are making a deal look increasingly unlikely according to The Telegraph.
Manchester City are demanding a £7million loan fee, a lot more than fees for players of similar reputations such as Timo Werner and Jadon Sancho who have gone on loan this January.
And Newcastle are flat-out refusing to pay the fee as they regard the deal as “not making financial sense”.
Newcastle deal-makers are also understood to also have been put off by City’s willingness to include an obligation to buy as part of the loan’s terms.
Newcastle are cash-strapped this window after announcing a £73.4million loss in 2023.
They do not regard a deal for Phillips as completely dead but City will have to budge on the terms of the deal.
There is a feeling that Newcastle will have to wait until nearer transfer deadline day to resurrect the loan.
Newcastle were confident of a deal getting done given Phillips openly discussed his desire to leave in November and Pep Guardiola admitted the midfielder is no longer in his plans.
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The Magpies are unable to commit £40m to sign Phillips in the summer sue to already being obligated to paying Chelsea £28m for Lewis Hall.
City are confident they will find a club that will pay the money – despite the fee being touted already scaring Juventus off.
Newcastle remain “active in the market” and will return for Phillips if the situation changes.
The report says that while there was confidence that the club would bring Phillips in, that has been replaced by a general gloominess at the club.
There is apparently no confidence that the club will bring in a player this window, with the club hamstrung by FFP.
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