Neutrals may question why Newcastle and Aston Villa have had to resort to such deals.

After all, don't these ambitious clubs have incredibly wealthy owners?

But it is the established order who have the superior income streams.

That is what matters in a PSR world, as clubs are limited to losses of up to £105m over a rolling three-year period.

For context, as previously reported by BBC Sport, Arsenal (£327.8m), Chelsea (£337.8m), Manchester United (£364.7m), Liverpool (£386.1m) and Manchester City (£412.6m) spent more on wages than Newcastle generated in revenue (£320.3m) in Premier League clubs' most recently published accounts.

Aston Villa

Image source, Getty Images

John McGinn was not the only Aston Villa player to comment on Jacob Ramsey's departure.

Centre-back Tyrone Mings was keen to ensure the midfielder was not criticised after leaving his boyhood club, strongly hinting that there was far more to the transfer than is in the public domain.

"Don’t wanna hear any bad words or anything negative on this name," he wrote.

"You don’t know the half."

Aston Villa

Aston Villa captain John McGinn took to social media after Jacob Ramsey's move to Newcastle was confirmed, praising his former team-mate but seemingly making a veiled dig at the financial regulations.

“Always humble, respectful and willing to learn," he wrote.

“It’s been a privilege to share the dressing room with you and enjoy some special moments together on the pitch.

“A sad day losing a top player and person and one of our own, but it seems to be the way football is set up these days!”

Image source, Getty Images

Aston Villa

Aston Villa have had a higher wage-to-turnover ratio than Newcastle and the club were recently sanctioned by Uefa for breaching the European governing body's separate financial rules.

Unai Emery's side are now bound by a strict three-year settlement with Uefa, which means that "any £100m in incoming transfers must be matched by at least £100m in outgoing sales", in the words of football finance expert Maguire.

The Jacob Ramsey deal will likely have been concluded with that agreement in mind and former team-mate Neil Taylor said it was "very difficult to see him leave" as a result.

Villa made a loss of £206m in the two years to 30 June 2024 and, with the £100m departure of Jack Grealish in 2021 dropping away from their PSR figures, has made backing Unai Emery this summer far from straightforward.

Last term's run to the quarter-finals of Europe's elite club competition, along with the sales Moussa Diaby, Douglas Luiz and Jhon Duran will undoubtedly have helped.

But the Midlands club has spent more than £900m since returning to the Premier League in 2019, exceeding Uefa's 70% revenue to wages ratio every season.

Image source, Getty Images

Newcastle United have posted a video on the club's official X channel of Jacob Ramsey meeting his new team-mates, including Tino Livramento, who he played alongside for England U21s.

Image source, Getty Images

Jacob Ramsey joined Aston Villa's academy when he was just six and worked his way through the ranks, going on to make 167 appearances for the first team.

It seemed he would go on to make many more for his hometown club but instead, aged just 24, he has moved on - to one of Villa's likely competitors for Champions League football, no less - to Newcastle.

Newcastle know the feeling after they sold Elliot Anderson was sold to Nottingham Forest to help them comply with PSR rules following years of imbalanced trading.

Newcastle head coach Eddie Howe said he was "uncomfortable" letting Anderson go, but clubs are now being incentivised to sell such players.

That leaves homegrown talent increasingly vulnerable, as football finance expert Kieran Maguire explained.

"It works from an accounting point of view," he said. "But it's absolutely awful from a footballing perspective. I can understand the frustration of fans. They have a special bond."

Ciaran Kelly
BBC Sport Newcastle United reporter

Image source, Getty Images

Newcastle United and Aston Villa fans stood together as both sets of supporters vented their anger towards Profit and Sustainability Rules (PSR) at Villa Park on the opening weekend of the Premier League season.

The timing of this chant felt significant before Aston Villa announced the departure of Jacob Ramsey to Newcastle 24 hours or so later.

The deal secured Aston Villa pure profit on account of Ramsey being an academy graduate.

But it was not a cause for celebration.

Aston Villa captain John McGinn, who has been a vocal critic of financial regulations, wrote that it "seems to be the way football is set up these days".

Such dismay has even been felt across the Atlantic by Dean Smith, the club's former manager, who handed Ramsey his debut.

"It is sad for the Villa fans to see one of our own go," he said of the £40m deal.

While we've got Aston Villa fans' attention, let's talk about Jacob Ramsey.

The 24-year-old midfielder joined Newcastle for £40m on Sunday and the move has caused a bit of a stir among Villa supporters - and players, too, based on the social media posts from a couple of them...

Image source, Getty Images

Ian: Good Morning Phil, why do you think Manchester United are dragging their feet when it comes to buying a new keeper with the opportunity to buy Martinez from Aston Villa or Donnarumma from PSG, when clearly there is a major keeper issue to sort out?

Phil: Hello, Ian. I think they felt they had priorities to sort out at the other end of the pitch first, but it is clearly something that has been preying on their mind over the summer. Andre Onana is not good enough and neither is Altay Bayindir, as he proved against Arsenal on Sunday.

Some Aston Villa fans may regard this as sacrilege, but I actually think Emi Martinez is over-rated. He is certainly not “the world’s number one”, as we are so often told. Far from it, in fact.

Donnarumma, though, is definitely a deal worth exploring if United can get anywhere near it.

Image source, Getty Images

David: Afternoon Phil. Should Liverpool buy a defensive midfielder? We can look soft in the centre of the team and I worry we will struggle in the biggest games domestically and abroad.

Phil: Hello, David. No. I wouldn’t buy another defensive midfield player as I think Liverpool have the resources in there to cover that off, especially when Ryan Gravenberch is back from suspension.

I would prioritise another central defender, perhaps also another left-sided attacking player, although I still have a hunch we will see Alexander Isak at Liverpool before the transfer window closed.

Image source, Getty Images

Thomas: Phil, Good morning. Following Sunderland and their explosive start against West Ham and Leeds winning against Everton, although both games against arguably poor performances from their opposition, do you believe we could see two promoted teams stay up this season? Still early, I know.

Phil: Hi, Thomas. Well, I’ve predicted Leeds United will stay up out of the newly-promoted sides so won’t alter that just yet, but I must credit Sunderland with having a real go at making sure they stay up and that was a wonderful start at the weekend in front of packed house at The Stadium Of Light.

I’ll wait a while before adjusting my thoughts on who will stay up, but it was great to see both Leeds United and Sunderland making such impressive starts.

Image source, Getty Images

Ben: Hi Phil, still early very days but are Chelsea’s performances going to suffer after their Club World Cup exploits and lack of pre-season? They looked off the pace against Crystal Palace! Thanks

Phil: Afternoon, Ben. Early days as you say, so would not rush to judgement yet. It will be interesting to see if those exertions do take a toll later in the campaign – but Chelsea have enough players to offer rest and recuperation at the right times. And let's not forget that Crystal Palace are difficult opponents, a very decent side.

Image source, Getty Images

Umayer: With Jason Sancho reportedly looking to explore other options after rejecting Roma, what’s next for him? Why would you reject a massive club where you can escape the media scrutiny and just play football! Under Gasperini too.

Phil: Hello, Umayer. This is a question you would have to ask Jadon Sancho because the prospect of Roma and playing under Gian Piero Gasperini is surely an enticing one. At the moment his career is at a crossroads... again.

Conor Coady
Wrexham defender on Football Daily

Image source, Getty Images

I absolutely love Matheus Cunha. I think he is an outstanding footballer and I think going to a huge club like United you have to play for with no fear and I think he does that every time he steps onto the pitch.

I played against him last season and he doesn’t stop. He has the appetite to do well and make things happen. He can score goals. I think he’s a fantastic signing for Manchester United.

He has a hint of Suarez in him. Remember when Suarez used to dribble with the ball and used to bounce between players? He did it when he broke through Arsenal's backline.

Image source, Getty Images

Mark: Hi Phil, just wanted your thoughts on how you thought Cunha and Mbeumo played on Sunday? As a Manchester United fan, I thought they were excellent, and with Sesko the three can hopefully get us the goals required for a push for one of the European places.

Phil: I totally agree, Mark. I thought both Cunha and Mbeumo were top class. Mbeumo’s touch was superb while Cunha has bags of skill and threat. They looked two excellent acquisitions and it will be really interesting to see how they go on playing either side of Sesko.

Conor Coady
Wrexham defender on Football Daily

Image source, Getty Images

I think Manchester United someone need who plays on the edge.

I spoke to the Wolves boys about Matheus Cunha and they didn’t mind a suspension here and there, because, and it sounds really stupid but it’s because of what he brings to games, and how he could help win those games.

Last season for Wolves, Matheus Cunha registered 13 yellows and one red card.

He also missed six matches in total after being banned for incidents against Ipswich in December and Bournemouth in an FA Cup tie in March.

However, by offering to pay for some new glasses for the Ipswich security staff member after a clash, he shortened his ban and reduced the fine.

Image source, Getty Images

Kyle: Hi Phil, who has the leverage in the Garnacho situation, Manchester United or Chelsea? Given he wasn't selected for Argentina and has three years to run on his deal, surely he realises he needs to play to be in contention for World Cup selection and open doors to other suitors?

Phil: Hi, Kyle. Great question, as Manchester United clearly want Garnacho out and he wants to leave. Maybe leverage just slightly with Chelsea but this does not mean United should be handing them out any gifts.

I do think this will happen before the window closes as it is a deal that suits all parties – at the right price of course.

Image source, Getty Images

John: Hi Phil. How important is it that Liverpool sign another centre back who can step in for Virgil van Dijk over a long campaign?

Phil: Hello, John. Very important, with Jarell Quansah sold and Joe Gomez, unfortunately, too often injured. There is also a question mark over Ibrahim Konate’s future as he is yet to sign a new contract.

An injury to Van Dijk would be seriously damaging, so I’m sure this is something Liverpool are looking at, with talks having already been held about a deal for Crystal Palace captain Marc Guehi.

I expect Liverpool to sign a central defender before the window closes.