Newcastle’s team could have looked very different if they had scored their top goals.
The Magpies’ transfer spending is under scrutiny after a tense summer window in which they lost Alexander Isak.
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Newcastle tried to hold on to their star striker before selling him to Liverpool for a British transfer record £125m.
Not only did Isak leave, they also had a hard time finding the replacements they wanted.
Manager Eddie Howe still managed to spend almost £250 million, significantly more than the money he made from sales.
Howe has lamented the Premier League’s profits and sustainability [PSR] Rules that, as he says, slow the club down.
What did Howe say?
After a 2-1 defeat to rivals Sunderland in the Premier League, Howe again referred to the PSR rules.
Howe said: “The rules have made it very difficult to keep up with the speed at which he (the club) was originally going.”
“I don’t know how we can overcome this system. We have to stick to the rules set out, the club definitely wants to be ambitious, but there is a limit to what we can spend.”
“That affects everything we do. Not recruiting for so many windows, I don’t know of a team that wouldn’t suffer from that. We definitely do, and then losing Alexander Isak last summer was a big blow. But again, we can’t feel sorry for ourselves and use excuses.”
“We have to find a way to be successful despite all of these things. But that also requires an understanding of the conditions we find ourselves in.”
Newcastle transfers in summer 2025
Players inside
Nick Woltemade (Stuttgart) – £64.9m
Yoane Wissa (Brentford) – £55m
Anthony Elanga (Nottingham Forest) – £55m
Jacob Ramsey (Aston Villa) – £40m
Malick Thiaw (AC Milan) – £34.6m
Aaron Ramsdale (Southampton) – On loan
TOTAL – £249.5m
Players out
Alexander Isak (Liverpool) – £125m
Lloyd Kelly (Juventus) – £14.5m
Sean Longstaff (Leeds) – £12m
TOTAL – £151.5m
Who did Newcastle try to sign?
The Pitch Prospect’s YouTube show Inside the Toon discussed Newcastle’s spending and Howe’s comments.
It was pointed out that despite spending heavily, the players they signed were not among their main targets.
Nick Woltemade, Yoane Wissa, Anthony Elanga, Jacob Ramsey and Malick Thiaw came together for a total of £250 million.
Yet they haven’t delivered the results Newcastle would have hoped.
Shaun Custis, head of sport at The Sun, said: “The problem with Eddie’s PSR argument is that the last £250m we spent wasn’t really well spent.”
“Whatever you say about the PSR argument, what about what we signed?”
Presenter Ollie Clink added: “We all know we missed the top targets. We all know that happened.”
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“We all know that the players we signed were fourth or fifth on the list. If Eddie Howe had had his way and the club had been run properly that summer, not every single one of them would have come in, but you would have had a squad with… [Marc] Guehi, [Hugo] Ekitike, [Bryan] Mbeumo, even João Pedro and Liam Delap.
“So why are you taking away Eddie Howe’s bank cards? Because you know those weren’t his targets. He sanctioned those who came in. I understand that, but we had to get someone in.”
“We had to do it, otherwise Gordon would be at the front and had no replacement.”
Ekitike was Newcastle’s main target to replace Alexander Isak, but Liverpool moved for him when they thought the deal for the Magpies striker was dead.
Except the Premier League champions were able to sign both as part of their £450m attack on the transfer market.
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Ekitike has scored 11 goals in 28 games for Liverpool this season after his £79million move was completed.
Mbeumo turned down both Newcastle and Tottenham to sign for Man United in a £71m deal and was arguably one of their top players this season.
Joao Pedro also turned down Newcastle in favor of Chelsea, signing for £60 million.
In the summer of 2024, the Magpies saw Crystal Palace reject multiple offers for Guehi. The highest amount was believed to be worth more than £60 million.
Howe also missed out on goalkeeper James Trafford, who moved to Man City for £31m.
Trafford is likely to be on Newcastle’s radar again this summer.