In just one week, all the rumours will become reality as the January transfer window finally opens, but can we expect much from Newcastle United?
For months now, we have been speculating about the various comings and goings that could occur at Newcastle United in the New Year.
Eddie Howe has made his priorities clear: he wants a new full-back to cover for Tino Livramento and Lewis Hall, and he wants a new midfielder to bolster the central area.
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So many names have been linked with the Magpies already; from big money targets like Elliot Anderson to little-known talent like Kevin Danois and Luciano Valente.
We can all see that PIF need to invest in the squad in January, but whether they will or not is another matter. Based on what we know from the last three years, it’s highly unlikely we’ll see much money thrown around by Newcastle.
- READ MORE: Ross Wilson’s transfer strategy demands patience but it’s the best thing for Newcastle United
How much Newcastle United spent in recent windows
January 2023 – £45m
Roll back the years to January 2023 and we actually see a massive deal as Newcastle snapped up Anthony Gordon for a fee of £45m.
Despite controversial rumours of a switch to Liverpool, Gordon opted to leave Everton to take the next step in his career on Tyneside.
It was a big deal, but it’s arguably been money well spent. Gordon has had his ups and downs, but when he’s at his best, he’s easily one of Newcastle’s best and most influential players.
That year, Newcastle also sold Jonjo Shelvey to Nottingham Forest for around £5.7m, which is the biggest sale they’ve made in recent years too.
January 2024 – £0
Things have not been anywhere near as exciting since. In fact, in January 2024, the only deal worth any kind of mention was Javier Manquillo’s move to Celta Vigo for free.
Despite links to the likes of Kalvin Phillips, Hugo Ekitike, Serhou Guirassy, and Ruben Neves, Newcastle didn’t spend a single penny in the winter window of 2024.
January 2025 – £0
The same was true for the last January window. Names like Dominic Calvert-Lewin, Tyler Dibling, Marc Guehi, and Omar Marmoush were linked with Newcastle, but no deals were made.
However, Newcastle did sell Miguel Almiron to Atlanta for a fee of around £8.3m. In truth, Newcastle could do little else due to PSR restrictions.
- READ MORE: Ross Wilson has just told Newcastle United fans what they want to hear about transfer plans
How would you actually feel if Newcastle United DIDN’T sign a player in January?!
It would cause a lot of talk on social media…
What can we expect in January 2026?
With a new PSR system coming in, Newcastle could have more freedom from here on out. Indeed, the Magpies are in a much stronger position these days, thanks to the sale of Alexander Isak and the business to offload Elliot Anderson and Yankuba Minteh last summer.
We could still see some departures in January, though. Joe Willock and Will Osula may be sold, with interest from Crystal Palace and Eintracht Frankfurt, respectively.
It’s hard to know if Newcastle will spend big, but we do expect them to do some business at least. A new full-back is the most likely signing, given Newcastle are so dependent on Livramento and Hall.
It’s unlikely we’ll see a massive deal done either way for Newcastle, though. The club historically does not do much in January anyway, and PIF may be keen to wait it out and see how the new Squad Cost Ratio system really impacts them come the summer.
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