3 minute read
Newcastle United are preparing for a pivotal January 2025 transfer window, with expectations of a budget of at least £65 million.
This amount reflects the amount turned down in their summer bid for Crystal Palace defender Marc Guehi.
A renewed attempt for Guehi remains possible as Eddie Howe's side looks to strengthen key positions, including right-wing and centre-forward roles.
However, spending plans are complicated by the Premier League's Profitability and Sustainability Rules (PSR).
Eddie Howe has highlighted how PSR restricts assumptions about Newcastle's financial flexibility, particularly as Anthony Gordon's new contract has significantly raised the club's wage bill.
Large expenditures now could have ramifications over the next three years, meaning each deal requires meticulous consideration.
"Firstly, I don't think any bid (for Guehi) reached that level (£65m)," said Howe.
"That is far in excess of what the reality was. Secondly, with PSR, there is no pot of money that we have sitting there waiting to be spent.
"It's all about trading in and out and making sure at the end we comply with PSR, and that is the first port of call with us as a football club. We have to comply, as we did last year.
"Then, of course, we are looking to improve the squad at every opportunity we can and there is a determination from everyone at the club to do that. So, it's about getting that balance right."
Newcastle's approach to transfers has evolved, with no fixed "pot of money" assigned to specific windows.
Instead, spending is assessed individually, balancing immediate needs with long-term sustainability.
Howe, who recently led a warm-weather training camp in Saudi Arabia, used the trip to discuss January targets with club executives and fulfil commercial obligations for Newcastle's Middle Eastern backers.
Since the appointment of Paul Mitchell as sporting director in 2024, the Howe-Mitchell dynamic has drawn scrutiny.
While reports suggested initial tensions, the pair are said to have worked effectively in recent months.
