GMB: Richard Madeley clashes with guest over Newcastle takeover
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Newcastle United chief Amanda Staveley is set to grant new manager Eddie Howe a bumper £200million transfer chest to play with over the next three years without breaching Financial Fair Play regulations. That is the seventh-highest total in the Premier League, and the club’s newfound wealth makes it highly likely that their Saudi-led consortium will spend as much as possible over the next few seasons in an attempt to catapult their side up the table.
Staveley finally concluded the Magpies’ lengthy manager hunt on Monday when Eddie Howe was confirmed as boss.
Steve Bruce had earlier been given his marching orders, and a temporary spell at the helm for Graeme Jones failed to yield that elusive league win.
At present, they are the only side still without a victory in the division, with five draws and six defeats across their first 11 games.
That could soon change, however, with the January transfer window just around the corner and a change in the dugout breathing new life into the players.
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According to Sportsmail, Howe and his sporting director, who is still yet to be appointed, will have £166m to spend over a rolling three-year period.
Early commercial deals are likely to bump that up to the £200m mark, in the same ball park as Arsenal and Manchester United.
Former Chelsea technical director Michael Emenalo remains one of the front-runners to take up the role of transfer chief, and the January window is likely to be crucial.
He would be presented with an immediate dilemma, however, as to whether the majority of that money is splashed now or whether they hold fire until further down the line.
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Staveley has already had her say on the matter, claiming that the club’s spend over the coming years will be concentrated on the ‘longer term’ while sticking to FFP rules.
That may come as a blow to Toon fans who wanted a blockbuster January blowout, while it may also prompt concern given that Newcastle must avoid relegation at all costs this season after becoming the world’s richest club.
Staveley is taking a considered approach for fear that a big spend in January could see them backed into a corner for future transfer windows when they inevitably attempt to move for more established players.
This being said, the likes of Eden Hazard and Ousmane Dembele have been linked to St James’ Park in recent weeks, two superstars who would certainly eat into their budget.
A precarious balancing act is therefore on the horizon for Howe and whoever his transfer side-kick ends up being, but Staveley has made her position clear.
“Newcastle United deserves to be top of the Premier League. We want to get there. It will take time, but we will get there,” she told Sky Sports in October.
“We want to see it get those trophies, obviously. At top of the Premier League, in Europe, but to get trophies means patience, investment, time. We want everybody to work with us to build the club towards what it needs to be.
“We’re really excited about strengthening the squad, but we have to work within Financial Fair Play and make sure this is done over a longer term.”
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