The ‘richest club in the world’ lost its wallet

Newcastle manager Eddie Howe said Friday that Premier League financial rules could force the club into selling star midfielder Joelinton at the end of the season. And there are rumours that the Brazilian would be replaced in the cheapest manner – by bringing someone in on loan.According to Daily Mail, Tottenham’s Pierre-Emile Hojbjerg is the most likely target for a six-month loan until the end of the season in case their Brazilian is sold by the end of the month.Newcastle have been a revived force in English football since a takeover by the Saudi Public Investment Fund in October 2021 when they sat 19th in the Premier League table. But off the field, the club are not immune from Premier League financial fair play regulations and they may now have to sell some of their leading players after posting a $93 million loss for the 2022/23 season.🗣️ 🇧🇷 Eddie Howe on losing Joelinton for the rest of the season:”It is a massive blow for us….he brings a different dynamic to our midfield. He will be a big miss but we are going to have to do without.”#NUFC pic.twitter.com/8jYNzrh82A— 𝗠𝗼𝘂𝘁𝗵 𝗼𝗳 𝘁𝗵𝗲 𝗧𝘆𝗻𝗲 #NUFC (@ToonMouthTyne) January 26, 2024 Joelinton could be among those leaving St James’ Park, with negotiations over a new contract for the $51 million star having stalled. He is set to miss the rest of the season after undergoing thigh surgery and Howe, asked if Joelinton had now played his last game for the Magpies, he said he’s “not a fortune-teller”.”Eighteen months left on a contract is a vulnerable time for a club. The club will need to tie Joe down to a longer-term contract or there is a possibility he will be sold at the end of the season. That is just the reality of the situation. As his manager, I’m determined for him to stay. I love him as a person and a player. But of course, there’s more to it than that. There’s Joe’s wishes and what he wants. Before he signs a contract, he has to be entirely happy with everything. We’re not at that stage yet.”##NAJAVA_MECA_7828772##Newcastle finished fourth last season to return to the Champions League for the first time in 20 years and reached the League Cup final. However, they were not as active as expected in the pre-season transfer window and have paid the price this season as an injury crisis has left Howe’s squad on its knees. A run of seven defeats in nine games saw the Magpies crash out of Europe and drop to down the Premier League table — they are currently in 10th place. But Newcastle’s ability to spend in the transfer market has been hampered by financial fair play constraints. The financial figures for last season showed a $90 million rise in turnover to $320 million.But chief executive Darren Eales said earlier this month that still left Newcastle well behind their rivals for a place in the Premier League’s top six.”To put it into perspective, we want to be a top-six sustainable club and Tottenham’s latest accounts available, total revenue was £440 million. We are at £250 million, so there is a big step even to the lower end of the top six. We have also seen that Manchester City are $905 million in revenue in their latest accounts. There is a long way to go in growing those revenues.”

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