Newcastle will have to replicate last month’s lavish spending in future windows if they are to achieve their dream of mixing it with the Premier League big boys.
Five new signings arrived at St James’ Park in January as the Magpies’ new mega-rich owners got the cheque book out to try and keep the club in the top flight.
Had Reims’ striker Hugo Ekitike - who rejected a deadline-day move to Tyneside - joined Newcastle, the new owner’s would have surpassed Mike Ashley’s entire net spend in just one transfer window.
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New data from CIES Football Observatory ranks Newcastle as the ninth-highest net spenders over the past decade, ahead of Spurs (10th), Leicester (12th) and Wolves (14th) when player sales are taken into account.
Astonishingly, the Magpies are just one position below European giants Liverpool, who have won the Premier League and Champions League in recent seasons.
The recent splurge has elevated the club to a slightly misleading position. Without last month’s £90million shopping spree, Newcastle would be in a £246million deficit, putting them 14th in the division - rather than ninth - for total net spend.
However, wild spending does not guarantee a conveyor belt of success, either.
Man Utd were by far the Premier League’s biggest losers, splashing out over £1billion on transfers despite failing to win a major trophy in almost five years.
Everton - who visit St James’ Park tomorrow night - have also had a shocker in the transfer market.
The Toffees have a net spend of £429million, placing them fourth on the list and giving Newcastle’s new owners a warning on how easily it can be to waste money following a takeover.
Premier League net spending top 10
Manchester United -1075m euors
Manchester City - 984m euros
Arsenal - 583m euros
Everton - 429m euros
Aston Villa - 424m euros
Chelsea - 413m euros
West Ham - 374m euros
Liverpool - 347m euros
Newcastle - 339m euros
Tottenham - 336m euros
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