Newcastle are very likely to spend more than £90m in the summer transfer window, according to former Premier League footballer Carlton Palmer.
The Magpies are now the richest club in the world after being taken over by a consortium led by Saudi Arabia’s Public Investment Fund (PIF) in October, and Palmer expects the new owners to spend big in the off-season.
How much money did Newcastle spend in January?
Newcastle brought in five players during the most recent transfer window, including Matt Targett on loan from Aston Villa.
They also signed defensive duo Kieran Trippier and Dan Burn, while tempting midfielder Bruno Guimaraes away from Lyon, and bolstering their front line by securing the signature of Chris Wood.
Overall, Newcastle spent just over £90m, and this appears to have paid off as the club have moved away from the relegation zone in the last couple of months.
However, it has been reported that the North-East side are set to spend less than this in the summer, with The Telegraph claiming that Newcastle intend to keep their budget below £90m.
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What has Palmer said about Newcastle’s potential summer budget?
Palmer thinks Newcastle will end up spending more than £90m when the transfer window re-opens as he has pointed out that their options may be limited with that budget in the current climate.
When asked for his thoughts on Newcastle potentially spending less than £90m, Palmer told GIVEMESPORT: “I’m not buying that at all. What can you buy for £90m? You’ve seen what they’ve just done in the transfer window just gone and the money that they’ve spent.”
Do Newcastle need to spend more than £90m to significantly improve their squad?
Newcastle spent their money wisely in January, bringing in players like Burn and Targett who have strengthened the defence, while Trippier also chipped in with two crucial goals before he picked up a foot injury.
This highlighted how the club does not necessarily need to spend a fortune to get the team performing better on the pitch.
However, Newcastle have lost their last three games, making it clear that there is still plenty of work to be done before they can start competing with the top sides in the country.
Having scored just once in these matches, it is evident that Newcastle need to improve their attacking options, while they also conceded five goals against Tottenham on Sunday, showing that the defence can still be a liability at times.
If Newcastle are happy to slowly build a side that can gradually work their way up the table, spending £90m this summer may suffice.
Should they wish to fast-track themselves into the top half of the table and beyond, though, it seems likely that they will need to splash the cash in the coming months.