Newcastle United endured a very difficult summer transfer window.
It remains to be seen whether or not Eddie Howe can lead his side back into the Champions League as a result.
A reduced schedule and the return of key players such as Sandro Tonali will no doubt help matters but Newcastle did not significantly strengthen their squad.
Indeed, Alan Shearer even slammed PIF’s decision not to spend bigger this summer, although there are obvious reasons for that.
The club are thought to have only just avoided a ten-point deduction from the Premier League after just meeting the Profit and Sustainability Rules (PSR), which do not allow teams to lose more than £105m over a three-year accountancy period.
As such, it does make sense that they would be wary of splashing big cash. While it does not make it any less frustrating, spending across the Premier League was down as a whole this summer.
Sporting director Paul Mitchell remains hopeful of a push for European qualification, such is the level of talent in the squad.
A study from the CIES Football Observatory would certainly back that up.
Where Newcastle United now rank for the most expensive squad in world football
According to their most recent data, Newcastle sit ninth in the world for having committed the most money in transfer fees to recruit their current squad members (£683m when including potential add-ons for various transfers).
Premier League rivals Chelsea, Manchester United, Manchester City, Arsenal and Tottenham make up the top five. PSG then sit sixth, just ahead of Liverpool in seventh and European champions Real Madrid in eighth.
Newcastle come ninth and Juventus make up the top ten.
Newcastle remain on course for the top
With those behind the club stressing that they remain ambitious, it’s worth remembering the level of talent Newcastle have on their books.
Clearly, a slow summer window has not exactly boosted Howe’s chances of success but he remains in charge of squad packed with top players. It may not be ideal but there’s plenty to work with at St James’ Park.
New signings will of course have helped but optimism should still be high.
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