Newcastle United have one of the lowest net spends of any Premier League club over the last ten transfer windows
Research from the CIES Football Observatory shows that the Magpies rank third-highest when it comes to 'balance' in the bank from transfer dealings since the summer of 2016.
According to the report, Newcastle have a balance of just over -£67m, only West Brom (-£64m) and Southampton (-£44m) have lower 'negative net spend'.
The likes of Brighton (-£227m) and Aston Villa (-£297m) are ranked much higher up the table which is topped by Manchester City with a balance of -£554m.
The research shows Newcastle spent £269m - that includes the £40million spent on Joelinton and £20million for Callum Wilson - but earned £202m in player sales.
Players to have left included Moussa Sissoko (£30m), Gini Wijnaldum (£25m) and Ayoze Perez (£30m.)
Critics of Mike Ashley have consistently accused him of failing to back his managers during his ownership of the club - Rafa Benitez walking away after struggling to get the Sports Director Owner to agree to his plan for progression.
The most positive balance sheets from across the top five leagues in Europe are found in France with LOSC Lille (+€191M) and Olympique Lyonnais (+151M).
Interestingly, German's best-ranked club is Joelinton's former home - TSG Hoffenheim (+87M€).
