Newcastle United legend Alan Shearer has given his verdict on the Premier League’s financial regulations and their impact on Aston Villa following a summer of major player sales.
Alan Shearer believes it “isn’t right” that Aston Villa have been forced to sell several of their most important players because of financial regulations.
Villa’s squad has undergone a dramatic overhaul in recent weeks. Morgan Rogers, Ezri Konsa and Youri Tielemans have all left the club, while Ollie Watkins and Emi Martinez are also expected to depart. That could leave Unai Emery without five players who were regular starters for much of last season.
The pressure to sell has largely been driven by the Premier League’s financial regulations, alongside UEFA’s squad cost ratio (SCR). Villa have needed to generate substantial transfer income to remain compliant and avoid additional financial or sporting penalties.
Shearer, a Betfair Ambassador, believes the situation is an unfortunate consequence of the modern financial landscape and feels ambitious clubs such as Villa and Newcastle have been hit particularly hard.
“I have a bit of sympathy for Villa because we’re in the same boat at Newcastle,” the Magpies legend said while speaking on Wembley Way at the launch of Betfair’s Walk of Shame, which celebrates some of football’s most spectacularly inaccurate predictions and opinions.
“I don’t think it’s right. You have to constantly sell your best players. Newcastle had to do it last year, they had to do it this year, and it’s hit Villa hard this term.”
Shearer did, however, back Villa to navigate their current difficulties with Emery still in charge.
“They’ve got an incredible manager who will be able to guide them – as he has done over the past few years and done a great job,” he said. “Whilst they have Unai Emery as manager I’ll always back them.”
Under the previous Profit and Sustainability Rules (PSR), Premier League clubs could record a maximum loss of £105m over a rolling three-year period. Villa’s latest accounts, covering the year ending June 30, 2025, showed a post-tax profit of £17m. That came after losses of £119.6m in 2023 and £85.4m in 2024.
PSR has since been replaced by a new financial framework which, like UEFA’s SCR regulations, ties spending to club revenue instead of setting a fixed limit on losses.
Under the new system, Premier League clubs can spend a maximum of 85% of their football-related revenue on squad costs. This covers player and head coach wages, transfer amortisation and agent fees.
Clubs participating in UEFA competitions face a tighter 70% limit. Villa have already breached UEFA’s regulations twice, with the club fined £9.5m last year and another £19.4m in June this year. However, £12.9m of the latest punishment was suspended under a settlement agreement.
Villa have generated more than £250m from player sales over the past two months, setting a new club record, and that figure could rise beyond £300m before the transfer window closes. The majority of the income has come from Morgan Rogers’ £117m transfer to Chelsea.
Konsa subsequently followed him out of Villa Park in a £55m deal with Arsenal, while Tielemans joined Manchester United for £35m. Watkins is also expected to complete a £50m move to Al-Hilal, while Martinez is reportedly closing in on a £7m transfer to Chelsea.
“It’s necessity because of the rules,” a former Villa executive told the BBC when asked about the sales. “The PSR, the SCR, issues are well documented.
“It does seem slightly unfair they’re having their ambition capped at this level. But it has forced this very big churn of players, which is unfortunate.
“Some will be forced due to PSR, some will be player demand. Combined it makes a big problem for Emery and certainly it is a lot to swallow in one go and to try and replace.”
