Following Newcastle United’s most recent financial figures, Darren Eales hinted to an interesting summer ahead.
Newcastle have arguably not made a significant first-team acquisition in each of the last three transfer windows. Head coach Eddie Howe has previously warned that his squad risks becoming’stale’ due to a lack of arrivals, therefore the main question is whether the club will have the money to keep key players while also making substantial signings this summer.
The club announced record revenue levels of £320.3 million for the 2023-24 season and decreased losses to £11.1 million for the fiscal year ending June 30, 2024. Increased commercial revenue, combined with proceeds from previous player sales, puts the club in a better position to comply with Premier League Profitability and Sustainability Rules heading into the summer.
Newcastle will have money to spend this summer, albeit no budget has been agreed.
Darren Eales examines Newcastle United’s transfer status ahead of the summer window.
Looking ahead to the summer transfer window, Eales said: “It’s a bit of a moving feast because we certainly have a number of things that will influence what we do throughout the summer.
“It’s an evolving process in terms of where players are in the current squad who may be ready to move on and who we’ll bring in.” There will be a consideration of how much revenue we will have next year. Are we in Europe? But the good news is that when I mention PSR, it’s always on a yearly basis, so you can see we had to do our chores in these windows.
“These financial accounts 23-24, we had to do what we had to do [selling Yankuba Minteh and Elliot Anderson], but that year was a strong year in PSR and remains part of our three-year cycle. So the good news is that investing for the future becomes easier after a strong year, like we’ve enjoyed with these accounts. However, the quantity will depend on a variety of conditions.
“But it is a good cycle which is good news for us.”
Paul Mitchell’s role shift from previous summer at Newcastle United
It will be Paul Mitchell’s first full summer transfer window since being named Newcastle’s sports director. Mitchell played a supporting role last summer, joining midway through the transfer season before shifting his focus to player sales in January.
In January, the Magpies sold Miguel Almiron to Atlanta United for £10 million, while then loaned Lloyd Kelly to Juventus with a £20 million commitment to make the deal permanent in the summer. This summer, his position will be much more significant, with a bigger emphasis on signing players.
“We’re in a good place,” Eales said. “We are satisfied with our January transfer outgoings.
“Being relatively open, that has previously been a challenge for us in terms of making such player transactions. That was beneficial for us in terms of the window.
“Paul and his team have had a period of time now working with Eddie as well because, ultimately, it’s about getting the players that Eddie wants in his position so there’s real alignment in that respect so we’re excited about the summer ahead.”
