Pundit issues ‘£200m’ Newcastle prediction after development – ‘fans won’t want to hear this’
Newcastle United are not going to spend big in January despite a record-breaking financial reveal.
That’s according to former Hibernian striker Tam McManus, speaking exclusively to Football Insider about the latest financial news out of St James’ Park.
On 13 December, sources told Football Insider that Newcastle registered club-record revenue for the 2021-22 financial year.
The Magpies’ turnover for their first post-pandemic season surpassed the £178.5million they recorded in 2017-18.
But heavy spending in the transfer market following the Saudi Public Investment Fund’s takeover in October last year has led to an increase in amortisation and means the club is forecasted to present a total loss approaching £50m.
McManus does not expect the club to spend significant amounts of money in January despite this record-breaking news.
“The fans won’t want to hear this but I don’t think that means anything,” McManus told Football Insider‘s Ben Wild.
“They will have plans for January and while I’m sure there will be money to spend, I don’t think we will see a £150million, £200million spend.
“Newcastle only did that last January because they absolutely had to. This year, they are in a much better position.
“I’m sure they will be looking to recruit. With their position in the table, I’m sure Newcastle could attract some very good players but January is always a hard month to do business in.
“Maybe one or two deals get done, players for the future. But I don’t see a big £50million player coming in. Financial fair play has to play a role at some point.
“I think they could spend next summer if they get into Europe, that would make sense because they would need to boost the squad.
“I don’t think this news will change their plans.”
In other news, pundit suggests Newcastle United could sanction £70m Moises Caicedo bid after journalist’s update.