Eddie Howe admitted Thursday that Newcastle will not be able to spend wildly in the upcoming transfer window after securing their Premier League status.
The Magpies’ presence in next season’s English top flight was confirmed on Wednesday by Leeds’ 3-0 defeat to Chelsea, meaning Howe and the club’s Saudi-backed owners can now begin planning in earnest.
However, after investing about £85 million ($104 million) in January to bring in Kieran Trippier, Chris Wood, Dan Burn and Bruno Guimaraes, as well as loan signing Matt Targett, Howe has warned fans not to expect a major splurge.
The 44-year-old said there was an “element of truth” in reports that his budget could be more modest in the summer transfer window, referring to financial regulations.
“With financial fair play, we have restraints and we have things that we have to work within, so we can’t just go out and spend money on players like maybe teams could have done in the past and totally change their squad within one transfer window,” he said.
“That is not an option for us. The more money you spend in one window, the more it impacts your ability to then spend in windows beyond.”
Newcastle will reportedly have a war chest of £60 million to £80 million as they attempt to negotiate Premier League profit and sustainability rules, which limit clubs to total losses of £105 million over a three-year period.
Howe, whose side host Arsenal on Monday, added: “The rules are there to govern the game properly and we have to follow suit, so that does impact what we can do this summer.
“But it doesn’t mean that we’re totally without ambition. We want to try to bring the right players in, ones that are proud to wear the shirt and that can make a difference.
“We’re well aware that we have to change the squad and we have to make improvements, but it’s going to be a difficult balance.”
The Newcastle boss, whose side are currently 14th in the Premier League, said the long-term vision remained in place for a club that has not won major silverware since 1969.
Asked if fans might feel let down, he said: “No, not from the vision that was sold to them because the club will get there. I am a believer in that the club will get where it wants to be.
“The time it takes to get there, I think that is something no one can predict.”
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