It was a month of “constant conversations” with clubs and thousands of WhatsApps but in the end, there was no big transfer deal for Newcastle United’s new hierarchy to hang their hat on.
This time it was not for want of funds or potential PSR problems. Newcastle could have done some business – and it’s understood they are now working on deals that may be ready to go before the summer window opens – but they found neither the right players or right prices. In the January transfer window only 18 permanent deals were done in the Premier League.
“It was a window when nothing happened – anywhere,” is how one source summed it up.
They’re aware of how it all looks and Eddie Howe even admitted it constituted a “risk” with their packed fixture list. But, given how disastrously last minute the summer of 2025 was, Newcastle have long needed a proper transfer strategy.
With boosted recruitment networks, proper alignment between the executive team and the technical staff, boosted use of data and a player trading plan, Newcastle believe recruitment will look rosier in 2026.
Why January was so quiet
But to get there, it has had to be a dry January. Nearly £200m was spent in the summer – some of it in haste, with long contracts weighing on the club for years to come – which meant there had to be caution.
It’s a policy that everyone signed up for. The suggestion funds were restricted by PIF because of inconsistent form or a lack of faith in Howe are fantasy. The manager retains their “total” faith. “Internally, there’s been zero panic about signing players,” one source says.
The Tonali to Arsenal rumours are complete nonsense (Photo: Getty)Instead it’s some familiar considerations. Premier League PSR and squad cost rules are an influence but Newcastle’s internal ambition is to be in Europe every year. That means Uefa’s restrictive limit of squads costs being 70 per cent of revenue are one of the club’s biggest concerns.
The one bit of business they’re delighted with? Persuading Sven Botman to commit felt like a big moment, giving them “stability” and heading off a potential overhaul of their options on the left of defence and securing a talent who had interest from some of Europe’s top clubs.
There’s hope that at least one more renewal might be close – and inside the club they don’t believe Sandro Tonali is about to pull an Alexander Isak, despite strange reports linking him with Arsenal on Monday.
Claims that Tonali’s agent offered him to Arsenal were dismissed as “total bollocks”, with sources going further on Tuesday to suggest he’s told Newcastle he’s happy at the club and a sale in the summer isn’t on the agenda.
But there has to be a sense of realism too – there’s noise around him in recruitment circles. Chelsea has been mooted as another club interested in the Italy international. If Newcastle don’t return to the Champions League, they might be vulnerable.
Newcastle’s transfer plans
That sort of thing sets the scene for the summer: where possibility and difficulty will collide for Newcastle. They can’t be caught out trying to sign players who aren’t interested or trying to keep disenchanted stars.
“There’s constant meetings, constant dialogue. We’ve got clear plans on what we’d like to do,” one source says.
Although insiders bristle at talk of a “rebuild”, there’s an acknowledgement Newcastle face a big summer in which substantial investment in the squad is anticipated.
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The club want a new goalkeeper, left-back, midfielder and centre-back as a minimum. Depending on their ability to player trade – which is a big part of the new strategy – they may also add another forward and there is intrigue over what they do at right-back, where Kieran Trippier’s future is uncertain and Tino Livramento is yet to commit on a new contract.
In the world of PSR you have to sell to buy, which is a dynamic Newcastle have spent plenty of time thinking about – squad evolution is on the agenda after a reliance on some quick fixes.
The i Paper has been told that a move for highly-rated Reims midfielder Patrick Zabi will be resurrected in the coming months, with Newcastle optimistic that they can secure a deal for the 19-year-old dubbed the “heir to Paul Pogba” in France.
It feels like the kind of transfer the club needs to pivot towards.
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