Rio Ferdinand has been 'impressed' by Newcastle United's sensible approach in the transfer market since PIF's takeover in October last year.
The Magpies currently sit third in the Premier League after losing just one of their first 14 league games.
Although marquee signings such as Bruno Guimaraes and Alexander Isak arrived in the winter and summer transfer windows respectively, Newcastle have avoided the temptation of spending recklessly.
Ferdinand has praised the club's hierarchy for their transfer policy and also credited Eddie Howe's ability to get the best out of the whole squad.
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"I've been really impressed by Newcastle, the hierarchy and the manager," Ferdinand said on BT Sport's Early Kick-Off. "Because it's quite easy when you fall into the category of being one of the super-rich and we've seen so many teams come in and obliterate the market and go huge.
"They make a real dent in the market and buy a marquee, showpiece signing. They haven't done that, they've been very economical, they've been very sensible and the signings they've made have impacted the first XI. They've become a really hard outfit to beat, really hard working, and they're adding goals.
"He's also getting a tune out of players that a lot of people thought were surplus to requirements, or were on the scrapheap."
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