Eddie Howe has admitted that Newcastle United's newfound status as a rich club is 'not entirely accurate' - and has led to the Magpies being quoted inflated prices in the transfer market.
Outsiders have regularly referred to Newcastle as the richest club in the world following last year's takeover, but that is not true. Yes, Newcastle's owners have remarkable wealth - the PIF's resources, alone, dwarf that of even Man City and PSG's owners - but the rules in place mean that the hierarchy cannot just spend their way to the top in a matter of windows.
Newcastle are instead attempting to build the club up gradually and sustainably while complying with these rules, whether it is the Premier League's profit and sustainability regulations or, moving forward, UEFA's new financial rules for those sides playing in European club competitions. Newcastle have a while to go until they are competing on the continent, of course, but the owners are well-aware that UEFA's regulations will limit the amount spent on wages, transfers and agents fees to 70% of revenue in 2025-26.
