If 2024 brought two deflating transfer windows for Newcastle United, then there is an acceptance at St James’ Park that they have to deliver in 2025.
The working relationship between Paul Mitchell, the sporting director, and Eddie Howe, the head coach, will be stress-tested, while Newcastle still have to find ways of strengthening while navigating those dreaded three letters, PSR (the Premier League’s profit and sustainability rules).
Heading into what feels like a critical year, this is what The Athletic has heard about Newcastle’s transfer plans for the January and summer windows of 2025…
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What positions will they be looking at in 2025?
Newcastle have been tracking players in every position, with scouting trips across Europe and beyond. They will be nimble, aiming to swiftly strengthen areas that require reinforcing, while also responding to opportunities to bring in long-term targets elsewhere.
The key areas Newcastle hope to bolster — and have been attempting to for several windows — are right-winger, centre-back and goalkeeper.
At right wing, Miguel Almiron and Jacob Murphy have failed to impress this season, while none of Anthony Gordon, Harvey Barnes or Joelinton is the long-term answer.
In defence, Sven Botman and Jamaal Lascelles’ absences have been compensated for by Dan Burn and Fabian Schar’s form, yet Lloyd Kelly has struggled and Emil Krafth is not a natural centre-half. Lowering the age profile of the centre-back cohort is a priority.
Newcastle did sign two shot-stoppers, John Ruddy and Odysseas Vlachodimos, in the summer, but neither is considered a genuine challenger to Nick Pope.
Restructuring the midfield department is also a possibility, given the uncertainty over Sean Longstaff’s future, while another forward is desired due to Callum Wilson’s age, fitness problems and contract status.
Are there any players they are already looking at?
The Marc Guehi saga dominated August and Newcastle are still keenly interested in the 24-year-old. The feeling on Tyneside is that a January transfer would be difficult — it is not being ruled out, however, even if Botman’s scheduled return next month lessens the immediate need — but Newcastle may make a fresh approach next summer. By then, Guehi will be into the final year of his Crystal Palace contract and there are likely to be rival suitors.
Marc Guehi has become an England regular this year (Tim Clayton/Corbis via Getty Images)
Milan’s Malick Thiaw has been watched long-term, though Newcastle opted against moving for him last summer, while Benfica’s Antonio Silva has also been tracked, and contact was made with Bayer Leverkusen over Edmond Tapsoba in August. Mitchell is aiming to widen the geographical landscape from which Newcastle recruit and so fresh centre-back targets are expected.
At right wing, the club enquired about Nottingham Forest’s Anthony Elanga during the last window and he is still liked. Brentford’s Bryan Mbeumo continues to be linked but, while there is some admiration, it would be expensive and complicated. Newcastle have followed right-sided forwards from across Europe, too.
In the goalkeeper position, Burnley’s James Trafford, for whom Newcastle offered £16million ($20.2m) in June, fits the profile Howe wants. At 22, he is 10 years younger than Pope and a potential successor.
Elsewhere, Middlesbrough’s 22-year-old midfielder Hayden Hackney has been watched, while long-term interest in Everton’s Dominic Calvert-Lewin means a free transfer next summer cannot be entirely dismissed should Wilson leave, even if it is unlikely.
Who will they be looking to sell?
Miguel Almiron has been available for two windows and has played only 103 league minutes this season, but clubs in the Saudi Pro League and MLS have been reluctant to match the 30-year-old’s salary. River Plate are interested, but a deal may not be straightforward.
Selling Longstaff, meanwhile, would represent pure profit on the books and, with a 12-month extension set to be activated in his contract before the end of 2024, the 27-year-old could command a reasonable fee. Howe is loath to lose him, however.
Sean Longstaff has been at Newcastle for almost 20 years (George Wood/Getty Images)
Newcastle need to reduce their wage budget, so significant earners Kieran Trippier and Wilson may also be moved on. They may listen to offers for 35-year-old goalkeeper Martin Dubravka, too. Isaac Hayden, who does not train with the first-team squad, is still available.
The sale of a fringe player in January will not necessarily facilitate an incoming. Due to Newcastle’s PSR position — apologies in advance, but more on that later — club sources believe it may be prudent to free up space in the wage budget regardless of signings. Newcastle will bring in long-term targets if they can mid-season.
But Newcastle will not entertain bids for their star players in January. While they want to keep Gordon, Alexander Isak and Bruno Guimaraes, should a huge bid arrive next summer and the club fail to qualify for Europe, then a lucrative sale cannot be ruled out, given their PSR position. At some stage soon, Newcastle may have to sell one of their elite players.
What moves have they already made?
In October, Newcastle announced the signing of Vakhtang Salia from Dinamo Tbilisi. The 17-year-old Georgia Under-21 forward will officially join in August 2025, when he is expected to head out on loan.
Who will make the key decisions over the next two windows?
That remains to be seen because, after a chastening first window as sporting director, having only arrived on July 4, the onus is on Mitchell to dovetail with Howe and bolster a first-team squad in need of quality and a refresh.
Mitchell claims to have followed a “predetermined strategy” during the summer but, like Howe, insists “natural collaboration” is the way forward. This month, Mitchell stressed that “contrary to common belief”, he does not have the “final decision on player trading”.
Paul Mitchell, left, will oversee Newcastle’s transfer strategy (Serena Taylor/Newcastle United via Getty Images)
Although Howe retains that veto on incomings, that does not necessarily mean he will always get his first choice. Mitchell is keen to reform Newcastle’s scouting outlook and to recruit from a wider geographical pool, with a preference for players under 25.
So 2025 will be a critical test of whether Mitchell and Howe’s working relationship has improved, and whether they can combine effectively.
Which players’ contracts are expiring? Who is expected to renew?
Eight Newcastle players are into their final year: Ruddy, Dubravka, Mark Gillespie, Schar, Lascelles, Krafth, Longstaff and Wilson.
However, some have one-year extension clauses that can be triggered based on appearances/achievements or can be unilaterally exercised by the club. Newcastle are set to do that with Longstaff, and they can keep Wilson for another 12 months, too.
Talks have been held with Schar and Krafth’s representatives over new deals, while Lascelles’ future is uncertain, despite being captain. The fate of the three goalkeepers is dependent upon whether another arrives.
What is their PSR position? What sort of budget do they have?
“I know we hate the term ‘PSR’, but it’s what we have to work to,” Darren Eales, the CEO, said this month. “It’s unforgiving for us. We’re walking on a tightrope.”
Supporters may be sick of hearing about the constraints of PSR, but Newcastle’s executive team keep stressing how much their strategy is being governed by the financial rules, given they still cannot rival elite clubs for income. The owners insist they are committed to spending the maximum permitted under the rules — club sources point to the recent £35m investment via a share issue — but they are hamstrung in the short-to-medium term by their revenue.
Wages are a constant in the PSR calculation and, following pay rises for Gordon and Joelinton and with no high earners moved out, Newcastle must balance their cost base.
Mercifully, Newcastle are not in the perilous position of last June but outgoings are required — Newcastle lost £73.4m across 2022-23, which still features in the three-year rolling calculation. Selling fringe players, such as Almiron, should suffice this time.
If Newcastle do any significant business in January, further outgoings may be required before June 30.
Supporters point to Newcastle’s willingness to spend £50m or more on Guehi during the summer as evidence of a large transfer budget. Theoretically, they do have the capacity to invest, but any money spent almost certainly needs to be offset — and that would have been the case had Guehi signed.
It is in Newcastle’s interest to plead poverty but every indication is that PSR remains a genuine restraint. That, allied with the club’s viewpoint that summer windows represent better value, means they will be far busier in the off-season than in January.
(Top photos: Getty Images)
