Eddie Howe has rubbished suggestions that Financial Fair Play is something of a myth when it comes to Newcastle United’s summer spending power.
Due to the well-known riches of the Magpies’ new Saudi Arabian-backed owners, there was an expectation United would ‘splash the cash’ on the players.
And while that’s happened to some extent with over £90million spent in January and £55m this summer, Howe is keen to stress that the club is operating on a strict budget.
Eddie Howe on impacts of FFP
Asked about Newcastle’s transfer strategy, Howe said: “Well, hopefully, it tells you that what I was trying to tell you at the back end of last season was the truth, and that’s what I’ll always try and give you to the best of my ability.
“Financial Fair Play will impact us and will continue to impact us for a number of years.
“We haven’t got the free rein that has maybe been perceived in the media that we can go and sign whoever we want and pay extortionate fees and wages.
“We’re not in that position and I don’t think we will be for some period of time.
“We’re having to be creative, smart and try and make the right additions in line with the financial constraints we have.”
Frustrations in the market
Moussa Diaby is among the club’s top targets but Bayer Leverkusen’s rumoured £60m price has made a deal near enough impossible to strike.
Focus has switched to James Maddison this week but two bids, in the region of £40million, have both been rejected by Leicester City.
However, despite United’s frustrations, Howe remains “very confident” of adding further new signings before the transfer window shuts on September 1.
“There’s certainly no frustration aimed at the club, it’s circumstances surrounding,” Howe said.
“There are players who have decided to move elsewhere but that’s a delicate thing, it’s not always the other club.
“A whole host of things have to drop for you. It’s ever-moving thing, it’s always changing but I’m very confident we can do what we need to make the squad as strong as possible.”