Newcastle United transfer budget update as Luke Edwards sends one-word message on PIF’s spending power

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The debate regarding Newcastle United’s transfer budget under PIF this summer continues to rage on. 

Newcastle United finally look to be in a position to sign players again, having seemingly come through the very worst of their problems with the Premier League’s Profit and Sustainability Rules (PSR).  

Still, exactly how much spending power PIF have this summer is up for debate. The most recent claim from Keith Downie of Sky Sports was that Newcastle United’s summer transfer budget is £125million. 

However, when asked on social media platform X if that was true, Luke Edwards had a different answer.

• READ MORE: PIF aren’t telling full truth about Newcastle United’s spending power, ‘I’ve seen it first-hand’

Luke Edwards issues update on Newcastle United’s summer transfer budget

Not long after the news about having £125million to spend broke, Edwards was asked if that really was all that the Newcastle United owners had to spend. 

While The Daily Telegraph journalist didn’t particularly elaborate, he suggested claims that £125m was the total spending pot were wide of the mark.

When asked by a fan on social media, Edwards simply responded with “No.”

How much PIF spent the last time Newcastle United qualified for the Champions League

The Champions League brings extra revenue, albeit PIF will likely have to pay the Newcastle United squad some bonuses for getting there.

Still, qualifying for Europe’s major elite club competition will generate more money to spend at St James’ Park, there’s little doubt about that.

In fact, PIF spent around £131.5million the last time Newcastle qualified for the Champions League.

• READ MORE: Newcastle United have ‘doubled’ their Champions League income – but there’s a catch for PIF

A similar spend this time around would be most welcome. It’s been two long years since the club signed a first-team player and Eddie Howe is desperate for some additions to his squad.

Hopefully, there’s more than £125million to spend. That may sound like a first world problem to a lot of clubs around the world, but it would effectively work out to spending £62.5million two seasons in a row, given the club didn’t sign anyone of real note last season.

That is just not enough to compete with the established elite.