In the last couple of transfer windows, PSR issues have left us unable to strengthen Eddie Howe’s squad, with no first team signings being made in almost two years.
But if the latest financial news – the 2023/24 accounts looked very promising – and Darren Eales’ comments are anything to go by, Howe looks set for some much needed backing this summer.
Eales has offered some insight into what we can expect from Newcastle in the coming windows, discussing our PSR position, the latest three-year cycle, Paul Mitchell’s role and Howe’s future at the club.
Speaking to the media yesterday in a series of in-depth interviews, Eales revealed that club chief are “excited about the summer ahead” and eager to back Eddie Howe with signings now our financial position has improved.
The “good news” is our PSR status at the start of a new three-year cycle, highlighted by the strong set of accounts posted yesterday for 2023/24, although where we finish this season will also have a significant impact.
Eales also revealed that there is now a “real alignment” between Paul Mitchell and Eddie Howe regarding our summer plans, with our sporting director preparing to step up plans for top targets in the coming months.
He said: “At the moment, the way we approach from ownership down – and everyone is aligned – is that we maximise our revenues and spend to the max we’re allowed to, so we incur those losses of £105m over three years, to give Eddie and the team the best possible players on the pitch that he wants.
“It’s frustrating because we want to go A to B in three years, but we can’t do what was done in the past. You can front load the spend, but you have to pay the piper. There is frustration by that PSR constraint. If it wasn’t for that, we could spend more on the team and accelerate our progress on the pitch.
“So the good news is it gets a little bit easier once you have a good season, like we had in these accounts, to invest in the future.
“The amount (available to spend) is going to depend on a lot of factors up until then, but it is a new (three-year PSR) cycle, so that’s good news for us. We will spend to the max.”
“Paul (Mitchell) and his team have had a period of time now working with Eddie. Because ultimately, it’s about getting the players that Eddie wants, so there’s real alignment in that respect. We’re excited about the summer ahead.”
Eales also insisted that PIF remain “100% committed” and will put forward every penny available into the club; whether that’s investing in new signings or infrastructure.
After describing Howe as an “amazing manager” while speaking to The Athletic on Tuesday morning, Eales discussed the boss in more depth.
Our CEO highlighted his collaborative approach and understanding of PSR – which he feels is ‘unique’ in a manager – and hopes to see the 47-year-old stay at the club for a “long time.”
“What’s great about Eddie is he’s super collaborative,” Eales said. “He’s unique as a manager in that he appreciates and understands we’ve got this PSR cap.
“He knows the club and the ownership are providing the maximum support they can within the rules and that every decision has a knock-on effect, that if we choose to renew contracts of players and keep key players, it means there’s going to be an impact in terms of what you have available elsewhere.
“We’re obviously super pleased that we’ve got Eddie as our coach. We’re delighted he’s with us and hopefully he’s going to be with us for a long time.”
“We’ve got a great coach, we have amazing players in our squad, we are growing our revenues and we have an ownership that is fully committed to the long term, so the future is bright.”
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