Journalist: Newcastle likely to keep PSR powder dry ahead of busy summer

Newcastle United find momentum as plans take shape

There has been a subtle shift around Newcastle United this week, the kind that does not announce itself loudly but matters all the same. Back to back Premier League wins for only the second time this season have nudged Newcastle up to ninth place, their joint highest position of the campaign, and delivered something just as important, belief.

The victories over Burnley and Crystal Palace also brought a first clean sheet in 13 matches, an overdue reward for a side that has spent much of the season firefighting defensively. That sense of relief has been sharpened by returning faces. Nick Pope was back between the posts for the 3-1 win at Burnley on December 30, while Tino Livramento, Kieran Trippier and Sven Botman all reappeared in the matchday squad for the 2-0 success against Palace. It felt less like reinforcements arriving and more like normal service resuming.

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Off the pitch, however, the mood remains cautious. As reported by The Athletic, Newcastle have yet to make decisive moves in the transfer market. The most notable activity has been administrative, cancelling Antonio Cordero’s loan to Westerlo and sending the 19 year old winger back to Spain on a temporary deal with Cadiz. Sporting director Ross Wilson, appointed in October, has undertaken a review of Newcastle’s loan players and was keen for Cordero to gain more meaningful minutes after managing just 87 league minutes in Belgium.

PSR reality shapes January thinking

Newcastle’s capacity to spend exists, but it comes with caveats. The club are operating within the Premier League’s profit and sustainability rules, and while there is room to manoeuvre, Eddie Howe has been clear that any January expenditure would have consequences later. Summer, not midwinter, is viewed internally as the moment for more substantial business.

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That outlook tempers expectations. Newcastle are not anticipating a frenetic window, nor a dramatic outlay. An addition or two would be welcomed, particularly at left back and in midfield, but prudence remains the guiding principle. Howe’s public line has consistently stressed balance, progress without jeopardising longer term planning.

Defensive recovery alters priorities

Injuries have shaped Newcastle’s season, yet the worst of that crisis is beginning to ease. The expectation for weeks has been that most injured defenders would return early in 2026, and that projection has largely held. Dan Burn, Emil Krafth and Jamaal Lascelles are the only senior defenders currently unavailable, and of that trio only Burn is a regular starter. He is expected back from rib and lung issues by the end of the month.

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Even so, depth remains a concern, particularly at full back. Trippier and Krafth are both into the final six months of their contracts and exits cannot be ruled out, though it is considered unlikely that both would leave in the same window. Full backs are central to Howe’s system, shaping Newcastle’s attacking width and defensive stability. When Lewis Hall and Tino Livramento start together, Newcastle look sharper, braver and more coherent. That pairing has started only four times this season.

Lewis Miley’s emergence as an option at right back has been an unexpected subplot, but it does not remove the desire for another left sided defender. Toulouse’s Dayann Methalie, a 19 year old capable of playing at full back or centre half, is among several players being monitored across Europe. He has admirers inside St James’ Park, though knee surgery will sideline him for a month and no formal interest has yet been made.

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Midfield questions and possible exits

Beyond defence, midfield is the area Newcastle would most like to strengthen should the right opportunity arise. Kees Smit of AZ is among their top long term targets. Newcastle enquired about the 19 year old last summer but were rebuffed, AZ adamant he was not for sale. The Netherlands Under 21 international is now on the radar of Europe’s leading clubs, and Newcastle understand the scale of the challenge. An aggressive mid season bid is thought to represent their best chance, though whether that materialises may depend on departures.

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Joe Willock’s situation is closely watched. He is into the final 18 months of his contract and has attracted Premier League interest, though no bid has yet arrived and the current expectation is that he stays. Will Osula is another intriguing case. Howe values having three recognised centre forwards, but a loan could benefit the 22 year old, with Eintracht Frankfurt still keen. Osula’s current foot injury complicates matters, and Newcastle would only consider a straight loan rather than any deal containing an option or obligation to buy.

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Harrison Ashby is available for a permanent transfer after failing to make a senior appearance since joining from West Ham in 2023. There is also an emphasis on development. Sean Neave, Leo Shahar, Alfie Harrison and Alex Murphy are among the young players who may head out on loan to gain first team experience.

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There is often a clamour in January for action, for signings that promise instant solutions, but the sense here is of a club thinking clearly. Two league wins, a clean sheet and key defenders returning feel more valuable right now than a rushed transfer.

The honesty around PSR matters too. Fans have seen what reckless spending can do elsewhere, and there is an appreciation that protecting the summer window is sensible. Eddie Howe’s calm message resonates. Strengthen if the right player becomes available, but do not force it.

There is excitement around names like Kees Smit, and frustration that left back depth remains thin, yet there is also pride in how youngsters like Lewis Miley have stepped up. This feels like a squad rediscovering its spine rather than one papering over cracks. If Newcastle can add one or two pieces without losing balance, this season can still tilt towards progress rather than recovery.