£42m player who Newcastle snubbed in January is now set to join Premier League club

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While Newcastle United continue to stutter in the transfer market, other Premier League clubs are strengthening.

We have recently seen Chelsea sign Pedro Neto from Wolves, who was linked with a move to Newcastle United before ending up at Stamford Bridge. Elsewhere, Liverpool are trying to sign Giorgi Mamardashvili, who was a top target for the Magpies earlier this summer.

The newly promoted sides are also adding to their squads, as they aim to survive in the Premier League after coming up from the Championship.

Ipswich Town set to sign former Newcastle United target

One of those sides is Ipswich Town, who are back in the top flight for the first time since they were relegated in 2002.

It is going to be intriguing to see how Kieran McKenna’s side get on, and they are set to add a major name to their squad.

According to the Telegraph, Ipswich Town are set to sign Kalvin Phillips on loan from Manchester City.

They report that he is on the brink of leaving the champions and heading to Portman Road, as Phillips gets set for a second loan spell away from Man City.

His first was at West Ham United, where he spent the second half of last season. However, he very nearly ended up at Newcastle United.

Why Newcastle United did not sign Kalvin Phillips

At the start of 2024, Newcastle United looked destined to sign Kalvin Phillips.

The Magpies were in the market for a midfielder, with Joelinton, Joe Willock and Elliot Anderson injured and Sandro Tonali suspended.

It was a position that desperately needed addressing, and the England international was Eddie Howe’s top target.

There were stories that Newcastle were confident about signing Phillips, and that Phillips wanted to sign for Newcastle.

However, a loan move to St James’ Park did not materialise. Instead, the 28-year-old went down south to join West Ham on loan instead.

Following the move, Eddie Howe admitted Newcastle did try to sign Phillips. However, he stated that they pulled out due to financial reasons.

It was reported that Newcastle could afford to loan Phillips, but decided that the £6million loan fee was not worth it considering the impact it would have on the club’s PSR position.

That ended up being the right decision, as Phillips massively struggled at the London Stadium. As for Newcastle, their PSR situation was already desperate enough come June 30th, as the Magpies aimed to raise £70million to avoid a points deduction.

They would have needed to bring in even more money had Phillips joined the club in January, so Newcastle will count themselves lucky that they snubbed the chance to sign the England international.

Now Phillips is off to Ipswich, where he will be eager to make a big impression. Hopefully he does, as he needs to get his career back on track after a very disappointing £42million move to Manchester City.