The Athletic’s Chris Waugh has revealed that Newcastle United have the financial flexibility to strengthen their squad in the upcoming January transfer window, though it remains uncertain whether the club will act on it.
“Newcastle do have capacity to spend in January, theoretically at least,” Waugh wrote. “That is largely due to the PSR (the Premier League’s profit and sustainability rules) boost they received from the £125million British-record fee they recouped from Liverpool for Alexander Isak.”
Some of that headroom has already been used to fund the arrivals of Nick Woltemade and Yoane Wissa. However, Waugh explained how the accounts work in Newcastle’s favour: “While all of the Isak fee will be banked in 2025–26 accounts, the money paid for Woltemade and Wissa is amortised equally over the duration of their respective contracts. So, to directly answer the question: yes, Newcastle do have the financial room to sign multiple players in January. Whether they do so remains to be seen.”
Midfield reinforcements, particularly a creative option, have been discussed internally, though no firm decisions have been made on timing. Waugh also noted that a new full-back could come under consideration if Tino Livramento’s injury proves long-term, but Newcastle may opt to wait until summer, when Kieran Trippier is expected to be replaced.
For now, the insider stressed that “substantive discussions about prospective mid-season business have not taken place yet and are unlikely to really ramp up for at least another month.”
