With October marking five years since the takeover, Newcastle still have plenty to address on and off the pitch.
Chairman Yasir Al-Rumayyan has targeted being “number one,” while chief executive David Hopkinson aims to have the club “in the debate about being the top club in the world” by 2030.
For that, Newcastle must ensure their infrastructure keeps pace.
A decision is expected on a new state-of-the-art training base after identifying a site in Woolsington, close to Newcastle Airport.
The club emphasize taking the necessary time to choose between expanding St James’ Park or constructing a new stadium—an essential move to grow revenues.
However, there is little room for mistakes if they are to compete consistently.
Newcastle‘s net spend of over £100m last summer needed a quicker payoff; in truth, defender Malick Thiaw has been the only undisputed success.
They are also feeling the impact of a bruising 12th-place finish last season and the loss of European football.
Crucially, after breaching UEFA’s financial sustainability rules, Newcastle have agreed a three-year settlement with European football’s governing body.
Securing funds by selling Anthony Gordon and Sandro Tonali to Barcelona and Tottenham Hotspur respectively was therefore vital to enable summer reinvestment.
Yet three key players have departed within 12 months, significantly weakening the side, especially after Alexander Isak’s painful £125m move to Liverpool last summer.
Newcastle are determined not to lose another star in Bruno Guimaraes, but the captain’s future is uncertain after he intimated he wished to join Arsenal.
Whatever unfolds, buying and selling will remain central to the club’s model, and there has been a notable shift in recruitment strategy as well.
More additions are badly needed, but every signing this summer—goalkeeper Ewen Jaouen, midfielders Sean Steur and Aladji Bamba, and winger Bazoumana Toure—has been 20 or under and recruited from the continent.
They possess significant potential and could thrive with the right guidance, yet they will need time. The same feels true of the wider project right now.