(Credit: Imago)

James Murray

Thu 2 April 2026 12:00, UK

Follow us on Google Discover

Newcastle United are facing a “big question” around their ownership group’s future investment following the conflict in the Middle East. 

That is according to former Manchester City financial adviser Stefan Borson, who exclusively told Football Insider the Saudi Public Investment Fund (PIF) could decide to invest more internationally. 

Newcastle’s spending has been restricted since PIF purchased a majority stake in the club in October 2021.

Eddie Howe’s side decided against signing new players in the latest January transfer window despite still having plenty to play for at the time.

Attentions are already turning to Newcastle’s spending plans for the summer after several of this season’s additions have struggled to make an impact at St James’ Park.

Do Newcastle have capacity to sign new striker?

Nick Woltemade’s future is in doubt following his recent form, having signed for £69million from Stuttgart last summer. 

Meanwhile, fellow striker Yoane Wissa, who joined for £55m from Brentford, has been criticised for his performances on Tyneside. 

Speaking exclusively to Football Insider, Borson discussed Newcastle’s capacity to sign a new forward in the summer transfer window.

“The next one they buy has to work,” said Borson.

“They can’t afford any more mediocre signings. But also, some of these signings that they made last summer can still work. It often takes players a year to bed in. 

“It wouldn’t be a surprise if next season Wissa and Woltemade are much better. That would not surprise me at all. They’re going to have some capacity, but not unrestrained as usual.” 

How could Middle East conflict impact Newcastle?

Borson speculated around how the ongoing war in Iran could impact PIF’s investment in Newcastle moving forward.

“There’s a big question about Saudi commitment, particularly again in a post-Iran world, certainly in the short term,” said Borson.

“What is the thinking coming out of Saudi Arabia right now in terms of non-core international assets? Well, we don’t know. 

“It may mean that they want to invest more internationally, you just don’t know.” 

Newcastle spent more than £250m on six new additions last summer, including Woltemade and Wissa.

However, the north-east giants have gone backwards on the pitch this season, with Howe’s side currently sitting 12th in the Premier League table.