Newcastle United head coach Eddie Howe believes his side can continue to “achieve great things” despite the financial constraints imposed by spending regulations, as the Magpies aim to challenge the Premier League’s established order.
Traditionally, clubs with the highest wage bills tend to finish at the top of the table, with spending power closely aligned to league position. However, Newcastle and their upcoming opponents Aston Villa have defied that trend in recent seasons, operating with the eighth- and sixth-highest salary bills in the division respectively.
Newcastle qualified for the UEFA Champions League in 2023 and 2025, while Aston Villa followed suit in 2024, and both clubs are once again pushing for a return to Europe’s elite competition. A win for Howe’s side against third-placed Villa on Sunday could see Newcastle climb into fourth place, provided other results fall in their favour.
“People far cleverer than me will say the wage bill follows league position, but I can’t think that way,” Howe said. “We have to think differently and find ways to win games to upset the status quo and finish as high as we possibly can.
“That belief has been with me since my first day in management. Football is played on the pitch, not with money.”
While Newcastle’s net spend last summer exceeded £100 million, the club also sanctioned the sale of star striker Alexander Isak to Liverpool for a British-record fee of £125 million. Several high-profile transfer targets, including Hugo Ekitike, Joao Pedro, James Trafford and Benjamin Sesko, chose moves elsewhere, opting for Liverpool, Chelsea, Manchester City and Manchester United rather than St James’ Park.
Despite Newcastle’s majority ownership by Saudi Arabia’s Public Investment Fund (PIF), Howe acknowledged that long-established clubs such as Arsenal, Tottenham and Liverpool are still able to spend more within the rules due to significantly higher revenues.
Financial analysis by Deloitte highlighted the scale of that gap, revealing Liverpool generated £367 million more in revenue than Newcastle last season, a disparity Howe admitted the club must work hard to close.
“I know people are tired of us talking about it, but it’s factual,” Howe said. “Growing our revenues is absolutely crucial, and there’s a lot of work going on behind the scenes to make that happen.
“I’ve always believed that whatever resources you have, you must try to outperform them. You have to overachieve, stretch every ounce of energy and effort from the squad you’ve got.
“We believe we can still achieve great things, regardless of the financial restrictions we’re operating under.”
From the 2026–27 season, Premier League clubs will be required to limit overall squad costs to 85 percent of their revenue, while teams competing in Europe must also comply with UEFA’s stricter 70 percent threshold—rules that continue to shape Newcastle’s long-term strategy.
