Newcastle United fans have been left shocked after learning of a new transfer budget, it could hamper their chances of signing Joao Pedro and Anthony Elanga.
The summer transfer window is in full swing for Premier League clubs, and Newcastle United are making strides after a quiet first week.
It was confirmed that Newcastle had a £45m bid rejected for Nottingham Forest’s Anthony Elanga on Tuesday, with the Magpies questioning whether to continue their pursuit of the winger or to move on to other targets.
Reports have now confirmed that Newcastle are set to make a second approach for Elanga and will assess their options if their second bid is rejected. Elsewhere, Newcastle remain in talks for Brighton’s Joao Pedro. The Brazilian is eager to leave the South Coast this summer and can choose between Chelsea and Newcastle.
Additionally, a deal for James Trafford appears to be close. Burnley rejected Newcastle’s £25m approach for Trafford earlier this week, but a deal could be close with the 22-year-old already agreeing personal terms.
With deals for those three players not agreed, Sky Sports News reporter Keith Downie has shared a new budget, which has come as a huge surprise to Newcastle fans.
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Keith Downie reveals shocking new Newcastle United transfer budget
It was originally believed that Newcastle had at least £150m to spend this summer, but Downie has since stated that it is actually slightly lower than that figure.
Instead, it is believed that Newcastle only have £125m to spend, meaning they must be more careful with their transfer business. The deals for Elanga, Pedro and Trafford already totalled around that figure.
In theory, it means Newcastle could only make those three signings this summer, despite the fact that Eddie Howe is very keen to improve other positions in his starting XI.
Talking about a deal for Pedro and the new budget, Downie said in a post on X that has since been edited: “Talks continuing between Newcastle and Brighton over a deal for Joao Pedro. Brighton rejected #NUFC’s £50m (£45m + £5m) offer during the week. (A) gap in valuation exists with Brighton looking for around £60m for the forward.
“Newcastle must be careful though, with around £125m to spend this window and other areas needing improved. Chelsea also in talks with Brighton over the Brazilian.”
The news comes as a big shock to fans, who believed there would be more money to spend this summer due to their approaches to previous transfer windows and the number of players they have sold in the last 12 months.
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Will Newcastle United have to drop out of deals due to their £125m budget?
The transfer window has been far from kind for Newcastle since the takeover in 2021, with PIF having to fork out significant amounts of money to help the club sign the players they need. Heavy spending caught up to them in 2024, but the Magpies still have the freedom to spend more freely.
Like Downie said, however, Newcastle must be careful with their existing talks to make sure they do not pay too much. In modern football, £125m can only get you so far.
It has already been confirmed that Newcastle will drop out of talks for Pedro and Elanga if it takes too long, with a soft deadline of July 7 set. That date coincides with when Newcastle’s non-international players are due back for pre-season training.
Howe has already made it clear that he wants to get his transfer business done early, but this budget puts that in jeopardy.
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