Newcastle boss Eddie Howe has warned expectant Newcastle fans the Saudi-backed club will be affected by Financial Fair Play rules for “a number of years”.
Optimism for a brighter future on Tyneside in the wake of former owner Mike Ashley’s relative austerity has blossomed since Amanda Staveley’s consortium, in which Saudi Arabia’s Public Investment Fund holds an 80 per cent stake, sealed its takeover in October last year.
The new owners invested around £94million in January on new players in an ultimately successful bid to preserve the club’s Premier League status, and have already added another £55m during the summer window to recruit Lille defender Sven Botman, Burnley keeper Nick Pope and secure Aston Villa full-back Matt Targett on a permanent basis.
However, as the hunt for attacking reinforcements continues, a cautious Howe said: “Financial Fair Play will impact us, will continue to impact us, I think, for a number of years. “We haven’t got the free rein, the free hand that maybe has been perceived in the media, that we can go and sign whoever we want and pay extortionate fees and wages. “We’re not in that position and I don’t think we will be for some period of time.