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Newcastle has secured the services of Jacob Ramsey, Aston Villa's attacking midfielder, in a deal worth £43 million ($58.3 million).
The news comes as Liverpool continues to be linked with Newcastle striker Alexander Isak, who failed to play in the team's Premier League game against Villa on Saturday. Ramsey, 24, departs Villa Park to join the Magpies in a significant financial move that assists Villa in adhering to the Profit and Sustainability Rules (PSR).
This season marks Villa's third consecutive participation in European competition, with UEFA regulations stipulating the club can only record losses of £60 million ($81.3 million) - a figure significantly lower than the Premier League's guidelines of £105 million ($142.3 million).
To meet this requirement, Villa has sold Ramsey, simultaneously reducing the proportion of revenue spent on player wages; a figure that stood at 91 percent at summer's onset, needing to be reduced to below 70 percent.
During their Premier League opener on Saturday, both clubs' supporters united in voicing their disapproval against the Premier League and soccer's financial regulations, with Newcastle having been compelled to sell young talents Elliot Anderson and Yankuba Minteh a year prior.
However, Eddie Howe's squad now has more flexibility and has capitalised fully on Villa's predicament, paying a guaranteed £39 million ($52.9 million) for Ramsey, who made 167 appearances across all competitions for the Villans, netting 17 goals.
"I'm delighted to be here," said Ramsey. "It's been a mad two or three days, but I'm really happy to be here and I can 't wait to get started.
"This is a big move for me, but as soon as I knew the gaffer was interested and really Iiked me, it didn't take much time to decide. His track record of developing players, especially those who have gone on to become internationals here, speaks for itself.
"It was always a tough game playing for Villa against Newcastle - the team is full of energy, so athletic and the fans are so passionate. I feel my game will suit that and I'm excited to be on the other end of it now."
Newcastle manager Eddie Howe said: "Jacob is another fantastic addition to our squad.
"His qualities will bring us something different on the pitch and he fits the profile of being young and hungry to develop, but also with a wealth of Premier League football under his belt.
"Jacob offers versatility and his directness in attack has proven to be a real threat at this level in recent seasons.
"He performed very well in the Champions League last season too and we believe he'll be a major asset for us."
Ramsey's exit isn't something Villa manager Unai Emery wished to see materialize, but with senior figures making it clear that PSR regulations needed to be satisfied, selling Ramsey was viewed as one of their most viable solutions, especially as they remain active in pursuing additional signings before the summer transfer window shuts.
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