Kieran Maguire: Newcastle United 'could spend £500m' this summer
Newcastle United could theoretically spend £500million this summer but will likely opt for a more conservative approach.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the scale of the Magpies’ recruitment goals in the upcoming window.
The Athletic reported last Saturday (7 May) that the new owners will likely sanction between £60million and £80m on new arrivals.
They paid out nearly £90m in the first transfer window of the PIF regime in January, but financial fair play means they cannot spend freely.
But Maguire claims that the St James’ Parks side’s reluctance to go hard in the summer is more about managing expectations.
“What Newcastle are trying to do here is dampen expectations,” he told Football Insider’s Adam Williams.
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“They could announce that they were going to spend £500m because of the way amortisation works. But every agent and selling club would then scale up the fees they are charging.
“They are going to take a careful approach. It’s going to be building blocks rather than a vertical takeover.
“It is going to be different to when Sheikh Mansour and Roman Abramovich came in at City and Chelsea. They wanted to make marquee signings immediately to show people they were serious.”
Newcastle posted a £22.5m loss in their last set of accounts.
The north-east giants are due to release their results for 2020-21 by next Saturday (21 May).