The January transfer window is set to be one of the most exciting in Premier League history.
Mainly, because Newcastle are now the richest club in the world and are set to splash out millions.
Who will be the first players to join the new era at St James’ Park?
We can’t wait to find out.
But there are also narratives.
Chelsea, Manchester City and Liverpool look set for a three-horse title race so will either of them strengthen their ranks midway through the campaign?
Antonio Conte loves signing players and surely wouldn’t have taken the Tottenham job without the promise of a winter spending spree.
Then there’s Steven Gerrard’s Aston Villa. The former Rangers boss will surely want to stamp his authority on his side and sign some of his own players. The same could be said of whoever takes over at Norwich.
Quiz: Can you name the English club that plays in this stadium?
Of course, all clubs have to consider Financial Fair Play in all of this.
Regulations state you can only make a £105 million loss over three years.
So, how much ‘wiggle room’ do Premier League clubs have at the moment?
Well, a study from Kieran Maguire, a lecturer in football finance at the University of Liverpool, for the Daily Mail has estimated what clubs can spend and still abide by the rules.
And it’s great news if you’re a Spurs fan…
How much each Premier League club has to spend
The study shows that Conte could spend £400m and not break any regulations - far more than any other club in the league.
"Spurs net transfer spend since 2010 is between a quarter and a half of the other Big Six clubs and it is the most successful club in terms of keeping its wages low as a proportion of income the club generates," Maguire told Sportsmail.
"Spurs have had a business model rather than a trophy winning model."
Next come Liverpool (£273m) and Manchester United (£243m).
You may see Newcastle down in seventh place with £166 million to spend. However, once the owners have negotiated commercial deals, they will be able to exceed that.
"As it stands the FFP position at Newcastle would have been the same without the takeover, however, the club now has an owner that will be prepared to exploit the potential since they have the resources and probably the inclination to do so," said Maguire.
"What's more, Newcastle's position is expected to strengthen further as it starts to strike new and lucrative commercial deals."
It's expected Newcastle's ability to spend will "rise easily above £200million."
Down at the other end of the table, Everton have -£35 million to spend after a number of disastrous transfer windows.
Aston Villa’s situation also looks bad but that’s expected to change once their 2021 accounts are in which will include the £100 million received for Jack Grealish.
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