Optimism is back at Newcastle United.
That was the main takeaway from Darren Eales’ pre-season briefing, carried out from Herzogenaurach in Germany, where the Magpies are based for a training camp at the Adidas headquarters.
After a deflating January, the unseemly loss of Dan Ashworth and a delicate June treading Financial Fair Play (FFP) fine lines, Newcastle have some financial freedom again and possibility once again feels like the watchword on Tyneside.
Here’s what we learned from Eales’ half-an-hour session with journalists.
Inside the corridors of power they believe a “big season” is ahead for Newcastle
It wasn’t just once or twice. Eales repeated the point several times. This, he said, is a “big year” for Newcastle.
It was in marked contrast to the tone of his January address when he made the admission – perhaps with the club’s fragile Profitability and Sustainability Rules (PSR) position in mind – that they would have to engage in player trading to remain compliant with FFP regulations. Some felt that negativity cast a shadow over the club, putting an imaginary “for sale” sign over their star men.
As it turned out none of their big names have gone and Eales emphasised that Alexander Isak, Bruno Guimaraes, Anthony Gordon and Joelinton would all be Newcastle players at the start of the season. With new signings to come and the purse strings loosened, confidence appears high.
“We are really excited about this season ahead,” he said.
“There is the disappointment of not making Europe, but the fact is we have the advantage of going Saturday to Saturday and not having the distractions of European football. We saw that the season before when we had that amazing year and qualified for the Champions League.
“We have the core of a great squad, a new cycle of PSR, and with Paul Mitchell coming in as sporting director we will hopefully strengthen the squad where we can, while being smart and innovative about that.”
The flip side of that is expectations will rise. European qualification appears a minimum but Eales also said the club would “attack” the two cup competitions while tilting for a return to the Champions League. After the reality check of January, there is a different feel to things at St James’ Park.
A new era when it comes to recruitment – with PSR worries easing significantly
Eales was careful not to say the gloves are off in terms of recruitment. Newcastle will not deviate from their previous approach to transfers: experienced superstars are unlikely to pitch up at St James’ Park anytime soon. Isak and Guimaraes remain the blueprint.
But the financial restraints have eased considerably – the £70m loss of the first year post-takeover has dropped off the accounts – and that means what Eales almost called a “new era” when it comes to recruitment.
It’s understood there are “exciting” targets being monitored. An international forward is one of those being considered for a vacancy for a dynamic, versatile striker to supplement the lethal Isak.
i asked Eales whether the appointment of Mitchell was intended to improve Newcastle’s hit rate when it comes to recruitment. It is clear he was appointed with a remit to make the most of Newcastle’s new-found flexibility in the market.
“At Newcastle we will also spend to the maximum available headroom,” Eales said.
“There’s never a doubt, never a question we won’t put the resources in. So then it is: how do you maximise those resources? What that means is every decision has an impact and that’s everything from ‘can you loan a player out who is on the fringes and get a return on that?’
“That helps you have more powder in your keg to put that team out there for Eddie.
“What I’m excited about is those two [Howe and Mitchell] working together to maximise the availability of resources for Eddie on the pitch.
“We know what an amazing coach Eddie is and what he can do for those players when he gets them.
“We’ve seen him with a player like Anthony Gordon, watching him, seeing how he’s improved in his 18 months at the club. It’s going to be a great partnership.”
No points deduction at St James’ Park as Eales plays up the PSR positives
After the fog of confusion of a fortnight ago, Eales cleared up one thing: Newcastle’s business in the final days of June means they will be compliant with PSR. That means no points deduction and a platform to “attack” the season.
It did look unseemly though, especially when news emerged of conversations with Liverpool about Gordon last month. “Noise” was how Eales categorised some of the speculation as he played down talk of the England international being “unsettled”.
Gordon’s “drive and professionalism” will ensure he remains focused, according to the CEO. He predicted a player returning from Euro 2024 with a “chip on his shoulder” after barely featuring in Germany and that Gordon would go to the next level next season.
The mad scramble was also not as mad as it appeared, he insisted.
“We see with the traditional transfer deadline, peoples’ minds don’t focus until you get to that point,” Eales said.
“Sometimes it takes time for the market to react. We have said our aim is always to be compliant and the good news is we are, going into the next cycle.
“If you look at it on a basic level, we had lost over £70m in the two previous cycles and that meant that we needed to hit target that we did.
“The good news is that £70m now drops off going into the new cycle so we have got that chance to know what our available headroom is.
“We still have to be smart; we can’t just spend what we want, every penny that we spend is important because it is money we can’t then spend elsewhere. But I think we are in a good position to deal with that going forwards and it’s a new season.
“With England going out [of the Euros] we can now focus on the new season and it’s that exciting time when everyone has the hope.”
Perhaps of more significance was his confident assertion that Isak, Guimaraes, Gordon and Joelinton will all stay at Newcastle this summer. That is a very good core to build around.
Newcastle projecting supreme confidence on Eddie Howe’s future
Eales did not get into specifics about Howe’s contract – other than it being “multi-year” – but was bullish about Newcastle’s position if the Football Association knock at their door.
It would take “a lot” of compensation and the manager to be unequivocal in his desire to leave Newcastle.
Neither of those things are anticipated at Newcastle, partly because of Howe’s obvious commitment to the project he signed up for, but also because – as Eales emphasised a few times – he is a man who does his best work on the training pitch, working on details and overseeing “two-a-days” (pre-season double training sessions).
It’s a fair point. Would the details man really swap what he gets at Newcastle for what he would get at England? Those who know him say he would struggle without the day-to-day contact and Eales’ warm words about him being the man for the long-term suggest last season’s difficult campaign hasn’t shifted their faith in him.
With money to spend, the core of the squad staying and a new PSR cycle, it would be a major surprise if he left.
No answers yet on the stadium expansion
Never mind the squad, signings or the manager, it is the future of St James’ Park that remains the most consequential decision the ownership group must make before the end of the year. In terms of legacy there is no bigger call and it will tell us much about the scope and scale of Saudi Arabia’s Public Investment Fund’s plans for Newcastle. Are they happy to tread water with an interim expansion plan – or will they sign a blank cheque to do something much grander?
Frustratingly we are no closer to a final call or those answers. Eales revealed the final part of the long-awaited feasibility study is – at last – “imminent”. Discussions have been held, scenarios have been war gamed by the board but the public line – at least – is that they are still carrying out “due diligence”.
“That report will come in, it will go to ownership and we will also speak to the fan advisory board when we get that final report,” he said.
“Then we will look at what our next steps are going to be.”
Staveley and Ghodoussi exit ‘mutual’, while PIF committed reaffirmed
Boardroom intrigue dominated discussions last week but Eales paid a hearty tribute to Staveley and Ghodoussi, while once again repeating the line that it was a “mutual” call for them to sell up and move on.
“This was an ownership decision jointly, a mutual decision,” he said.
“I think business opportunities, for Amanda and Mehrdad moving forward in terms of pursuing some other business ventures which I’m excited to see because they are very motivated. They’re a force of nature so I’m excited to see what they do next.”
He did then artfully sidestep a question about whether PIF – whose stake has increased after Staveley’s departure – would now be more visible.
They are rarely heard from and chairman Yasir Al-Rumayyan’s visits to St James’ Park are sparing. While Staveley and Ghodoussi attended every home game, a public face was being presented to fans but it appears unlikely a new figurehead will emerge.
“As far as the PIF are concerned and Jamie Reuben, on behalf of the Reuben family, they are committed,” Eales said.
“This is an ownership group that have got a big portfolio of companies. In one sense, on a scale of investment, it’s probably one of their smallest, but in terms of profile and their interest, it’s one of their highest.
“We can see that from what we are trying to do at the club in terms of the journey they’re going on and they’re fully committed. We’re excited.
“I’ve spoken about the end of the cycle with PSR and this is a big year for us now going forward as we go on that journey to become a club competing for trophies and being in Europe every season.
“That’s got to be our aim going forward.”