Eddie Howe has admitted Newcastle United will not be able to spend wildly this summer as they attempt to take the next step forward after securing their Premier League status.
The Magpies’ presence in next season’s top flight was confirmed on Wednesday evening by Leeds’ defeat to Chelsea, and Howe and the club’s Saudi-backed owners can now begin planning in earnest for what needs to be done during the summer.
However, after investing in excess of £90million in January on Kieran Trippier, Chris Wood, Dan Burn and Bruno Guimaraes, as well as loan signing Matt Targett, Howe has warned fans anticipating another spending spree not to expect a major splurge.
Asked about reports that his budget could be more modest this time around, the 44-year-old said: “There’s an element of truth in that.
“With Financial Fair Play, we have restraints and we have things that we have to work within, so we can’t just go out and spend money on players like maybe teams could have done in the past and totally change their squad within one transfer window.
“That is not an option for us. The more money you spend in one window, the more it impacts your ability to then spend in windows beyond.”
Sources on Tyneside have indicated the Magpies are likely to have a war chest of somewhere between £60m and £80million this summer as they attempt to negotiate Premier League profit and sustainability rules, which limits clubs to record total losses of £105million over a three-year period.
I am a believer in that the club will get where it wants to be.
Howe added: “The rules are there to govern the game properly and we have to follow suit, so that does impact what we can do this summer.
“But it doesn’t mean that we’re totally without ambition. We want to try to bring the right players in, ones that are proud to wear the shirt and that can make a difference.
“We’re well aware that we have to change the squad and we have to make improvements, but it’s going to be a difficult balance.”
That may come as a blow to supporters hoping to see the club once again challenging the established order in England’s top flight, although Howe insists the long-term vision remains in place.
Asked if fans might feel let down, he said: “No, not from the vision that was sold to them because the club will get there. I am a believer in that the club will get where it wants to be.
“The time it takes to get there, I think that is something no one can predict.”
