Premier League revelations shut down Newcastle critics after 'very difficult' £35m solution

It is one of the many inherent flaws of PSR. Clubs are effectively being encouraged to sell academy graduates because of the pure profit on offer. So when Nottingham Forest offered a fee worth up to £35m for Elliot Anderson, it was too good for Newcastle United to turn down given the Magpies' frantic late scramble for funds.

It is a fee that has been debated, even questioned, by rival supporters elsewhere following intense 11th-hour negotiations between Newcastle and Forest that also saw goalkeeper Odysseas Vlachodimos move the other way. However, football finance expert Kieran Maguire has rightly pointed out that working out a market value for an academy graduate is 'very difficult' as ultimately it is what both the buying and selling club decide 'based on their future expectations of that player's contribution on the pitch'.

A number of clubs asked for clarity and clarification on the matter following a flurry of similar transfers ahead of the unofficial PSR deadline on June 30 and the Premier League sent out an email to stakeholders last week - days before the Anderson deal was even completed.

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The top-flight's legal team made it clear that if a deal is found not to have been conducted at arm's length, a fair market value assessment of the transfer to 'determine the value the transaction can be approved at will take place'. However, the fee Anderson commanded makes sense when you take into account the 18 factors an independent assessor would look at when it comes to constituting what would be fair market value as the Premier League have revealed in their rulebook.

These include a player's age, position, record and experience, such as appearances and the competition in which those games have been contested; the player's nationality; scarcity within the market for players with similar characteristics; the relative bargaining position of the respective clubs involved; and the 'normal market conditions' expected to apply to a transaction like this.

Let's break it down. Anderson is just 21. This is a technical player who can play in a number of specialist positions in both the heart of midfield and across the attack, and there are not too many British players of that profile around who still have so much room to develop.

Anderson has already made 44 Premier League appearances and played in the Champions League for a team packed with senior internationals in his position. The Geordie has previously been called up by Scotland's senior set-up while England boss Gareth Southgate has gone on record to say that the Three Lions 'like' Anderson and think he is a 'very good player'.

When it comes to the bargaining position of the two clubs, it is worth noting that Newcastle ideally did not want to sell Anderson but the club's PSR situation made securing pure profit from the sale of an academy graduate all the more important whereas Nottingham Forest were, obviously, not under any obligation to make such a substantial investment before June 30.

Perhaps, most relevantly, Anderson, has moved for a similar fee to many of his contemporaries. It is easy to forget, for instance, that eyebrows were also raised when Nottingham Forest agreed a deal worth up to £42.5m for another British attacking midfielder, Morgan Gibbs-White, two years ago. Gibbs-White was a year older than Anderson, had played a similar number of games in the Premier League and had scored just one more goal in the top-flight. It proved an inspired piece of business.

Elsewhere, the wonderfully talented Archie Gray looks set to join Spurs for £40m despite never playing in the Premier League and after only making his senior debut for Leeds United in the Championship last season. Closer to home, Newcastle agreed a permanent deal for the inexperienced Lewis Hall for a sum of £28m plus potentially £7m in add-ons while Tino Livramento cost the Magpies a similar fee to Anderson last summer after recovering from a serious knee injury.

Romeo Lavia, who admittedly had one senior cap from Belgium, and also attracted interest from Liverpool, went for £53m plus add-ons when the midfielder swapped Southampton for Chelsea despite only playing one season in the top-flight. As unbelievably gifted as Cole Palmer is - and this is by no means a direct comparison - even the Chelsea talisman had only made 19 top-flight appearances when the Blues signed the future England international from Manchester City in a deal worth £42.5m.

Young players are in such high demand now that Omari Kellyman has cost Chelsea £19m despite only making a couple of substitute appearances in the Premier League for Aston Villa. That is the price of potential. That is the market in 2024.