Saudi PIF rule out superstar signings as surprise summer transfer budget is made public - Report
The Telegraph have released a potentially sobering 'exclusive' on Newcastle United's summer transfer plans, reporting that the budget released by the Saudi PIF will be much lower than some have suggested.
Luke Edwards claims that our new owners have already ruled out making 'expensive superstar signings' and will instead pursue a policy that's been described as "pragmatic ambition."
What does this mean? Well, The Telegraph have revealed that Eddie Howe is expected to work with a budget which is LESS than the £90m spent in January.
Instead, it's said our summer transfer budget will be around the £60m mark, meaning any big spending spree has been put on hold, giving us "room for manoeuvre" in the future under Financial Fair Play (FFP) rules.
Additional funds could still be raised through players sales, and the report names Jamal Lewis, Isaac Hayden and Ciaran Clark as three of several fringe men who could well be moved on.
Howe is believed to be eyeing 'three to four' new signings this summer, with the club determined not to blow the current wage structure that sees our top earners receive around £100,000-per-week.
As a result, The Telegraph reveal that our new owners 'laughed off' links with a £200m move for Neymar last week, insisting that the transfer budget sanction by the Saudi PIF is nothing like what some have reported.
The report also states that we want to 'evolve into one of the top sides in England', not spend huge sums at every opportunity in a bid to become a contender overnight.
So, a surprise for those expecting this to be a summer of major signings at St James' Park, but perhaps more proof that these new owners are in it for the long haul...
