Eddie Howe has admitted that Newcastle United's newfound status as a rich club is 'not entirely accurate' - and has led to the Magpies being quoted inflated prices in the transfer market.
Outsiders have regularly referred to Newcastle as the richest club in the world following last year's takeover, but that is not true. Yes, Newcastle's owners have remarkable wealth - the PIF's resources, alone, dwarf that of even Man City and PSG's owners - but the rules in place mean that the hierarchy cannot just spend their way to the top in a matter of windows.
Newcastle are instead attempting to build the club up gradually and sustainably while complying with these rules, whether it is the Premier League's profit and sustainability regulations or, moving forward, UEFA's new financial rules for those sides playing in European club competitions. Newcastle have a while to go until they are competing on the continent, of course, but the owners are well-aware that UEFA's regulations will limit the amount spent on wages, transfers and agents fees to 70% of revenue in 2025-26.
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That is why it is crucial Newcastle boost revenue streams in the coming years as, obviously, the Magpies will be able to spend more as a result. New sponsorship deals will go a long way to bringing in more money and Newcastle announced that noon, the Middle East's leading online shopping destination, will be the club's new shirt sleeve sponsor just last month.
More of these commercial deals will be needed, though, at a time when Howe has openly stated that bringing in players this summer has been made more difficult because of the perception that Newcastle are a rich club.
"I don't think that helps us currently," the Magpies' boss told Sky Sports. "It's not entirely accurate in terms of where we currently stand now. I do think that has elevated prices, potentially, when we ask for a player. That's certainly something we have had to live with and probably live with for a few years until the expectations fall in line with where we currently are."
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