Why Newcastle May Have Kept Lucas Bergvall Waiting
Newcastle United’s interest in Lucas Bergvall may have been delayed by an accounting technicality rather than any change of heart, according to a report from FourFourTwo. Bergvall emerged as one of Newcastle’s midfield targets during the summer, but the club had not formalised a transfer approach.
FourFourTwo reported that the delay could be connected to a regulation known as the 45-day rule. Sandro Tonali joined Tottenham from Newcastle in a reported £92.5 million deal on July 6. Under the newly enforced regulations, transfers between the same two clubs within a 45-day window are treated as a swap deal for accounting purposes.
Why the 45-day window matters
Had Newcastle signed Bergvall during the 45-day period following Tonali’s move, the club would have been required to record only the net difference between the two transfers. According to FourFourTwo, that would have removed the accounting benefit of Tonali’s departure that Newcastle could otherwise record upfront.
The report said the 45-day period ends on August 20. Keeping the transactions separate would allow Newcastle to account for the full profit from Tonali’s sale rather than blending the two deals.
Newcastle have encountered reciprocal deals before
Newcastle and Nottingham Forest completed two separate transactions before the June 30 accounting deadline in 2024. Newcastle sold Elliot Anderson to Forest for £35 million, while Forest sold goalkeeper Odysseas Vlachodimos to Newcastle for £20 million.
FourFourTwo said both clubs received an immediate PSR benefit from those transactions. The 45-day rule was introduced by Premier League financial regulators to address reciprocal transfer arrangements that could artificially increase a club’s short-term profits for Profitability and Sustainability Rules purposes.
Financial rules are changing
From the 2026/27 season, PSR will be replaced by the Squad Cost Ratio framework. The new system limits a club’s on-pitch spending, including transfer amortisation, player wages and agent fees, to 85 per cent of football-related revenue.
Because profit from player sales affects a club’s spending threshold, the timing of any Bergvall move could have accounting implications for Newcastle. FourFourTwo reported that separating Tonali’s exit from a potential Bergvall arrival would provide the club with more headroom under the incoming rules.
