PSR is based on losses per season.
Our income has increased by 150 million this year and will remain at that higher rate for as long as we're in the prem.
The transfer fees and wages we're spending will be covered by that increase income.
You have to remember that we came into this season with expenses of less than 50 million over the last few years and an expected income if we finish 17th of about 160 million.
That gives us 110 extra million to spend (on wages, agent fee and the percetange of the transfer fee spread out throughout the contract) without making a loss, and as long as you don't make a loss, psr does not care.
Essentially, we can spend more, because we're starting lower.
Our wage bill, prior to this summer sisgnings was about 30 million, Newcastle's was 100 million.
As such we have more leeway to increase that number without losing money then they do.