Toon can’t splash cash warns Howe
NEWCASTLE boss Eddie Howe has warned expectant Toon 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 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.
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 fullback Matt Targett on a permanent basis.
Extortionate
However, as the hunt for attacking talent 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.
“We’re having to be creative and smart and try to make the right additions with the financial restraints that we have.”
Howe was at pains to
make clear towards the end of last season that spending this summer would not be wild, and the club has had to draw a line under a series of proposed deals when the finances exceeded their valuations.
The Newcastle boss has still been unable to boost his pool of attacking players in the squad.
Leicester have shown little interest in selling James Maddison while Reims frontman Hugo Ekitike opted instead to join Paris St Germain.
Howe has not yet given up hope of adding to his resources and had indicated that he could yet use the loan market – as he did successfully with Targett during the second half of last season – to plug the gaps in his squad.
He said: “We’re working hard to try and add to the group.
“We are active in the market, and we’ll wait and see if we can add players before the window shuts.”