Newcastle could face a challenging summer as they attempt to managing the competing demands of their ambition and financial rules which prevent them from fully exercising their spending power.
In-form striker Alexander Isak and influential midfielder Bruno Guimaraes are coveted by rivals at home and abroad and the Magpies, who are determined to hang on to their biggest names, will have to negotiate a balancing act as they go about the latest phase of their recruitment drive.
Here, the PA news agency takes a look at some of the issues they may have to contend with.
Aren’t Newcastle’s owners fabulously wealthy?
The Magpies’ Saudi-backed owners may have eye-watering amounts of money at their disposal, but the Premier League’s profit and sustainability rules – of which Everton and Nottingham Forest have fallen foul – limit the extent to which they can use it. Clubs are not allowed to lose in excess of £105million over rolling three-year periods, meaning Newcastle cannot simply flex their financial muscle.
Why might they have to sell this summer?
Head coach Eddie Howe has been allowed to invest around £400million in his squad since taking up the reins in November 2021, but sacrifices have already had to be made – most notably Allan Saint-Maximin’s £25million departure for Al-Ahli last summer – in order to balance the books. Chief executive Darren Eales has admitted player trading is inevitable at some point, and Kieran Trippier and Callum Wilson were linked with January moves to Bayern Munich and AC Milan respectively as potential suitors dipped a toe in the water.
Who are their biggest assets?
Isak, who has already been touted as a target for north London duo Arsenal and Tottenham, is the man of the moment having taken his tally for the season to 21 goals with a double against Spurs on Saturday. The Sweden international, who became Newcastle’s record signing when he joined them from Real Sociedad for £63million in August 2022, has pace, skill and an eye for goal, all of which has endeared him to the Toon Army.
Midfield general Guimaraes, who has been linked repeatedly with Paris St Germain, enjoys similarly elevated status on Tyneside, where the continued presence of his great friend and Brazil team-mate Joelinton, who signed a new long-term contract last week, could prove a telling factor.
What has Howe said?
The Newcastle boss has been unequivocal on the need to retain his best players if the club is to realise its dreams. Asked in particular about Isak’s retention in the aftermath of the Spurs game, he said: “We are trying to build a team, we are trying to grow everything, really, upwards and to do that as quickly as possible and as efficiently as you can, you need to keep your best players, otherwise you enter a different period where you go into transition and you have to start again.”
What are the alternatives?
Behind the scenes, the club is working hard to boost commercial revenue with lucrative new kit and shirt sponsorship deals already signed and the benefits of their return to the Champions League stage to be factored in. However in the short term, they may still need to be creative and Paraguay international Miguel Almiron also attracted interest in January.
Alternatively, selling a home-grown player, reluctant as Howe would be to do so, would yield pure profit in PSR terms, while moving on fringe members of the squad might reduce the wage bill, but otherwise have little financial impact.
Kimmich ready to open Bayern Munich talks amid Barcelona speculation
Joshua Kimmich is ready to open talks with Bayern Munich over his future at the club amid speculation linking him with Barcelona.
The Germany international has spent nine years at the Allianz Arena, but he is due to become a free agent at the end of the 2024-25 campaign.
Barca have been repeatedly linked with Kimmich in recent transfer windows and are said to retain an interest ahead of next season.
Speaking to Spanish outlet AS, the midfielder talked up Barca - as well as fierce rivals Real Madrid - but fell short of saying he is open to a move.
"I want to talk to Bayern. When I do that, I won't go out and talk to the press about it," he said.
"I'm not thinking about this. I will speak to Bayern first. But of course, Barcelona and Real Madrid are amazing clubs with an amazing history."
Kimmich has played 37 times in all competitions this season for Bayern, whose last remaining hope of silverware is in the Champions League.
Bayern will face Real Madrid over two legs for a place in the final, with the first match in that double-header taking place in Bavaria on Tuesday.
Thomas Tuchel will depart the dethroned Bundesliga champions at the end of the season, with Ralf Rangnick the favourite to succeed him.
The managerial uncertainty is not helping with regards to the Kimmich rumours, but he insists that will not be a deciding factor on his future.
"It's not the most important thing right now," he said. "I know that when you sign a contract you don't sign it with the coach.
"You sign it with the club. For me, the most important thing is the club, not just the coach.
"But it's also important to know what the coach thinks about you and the team. Other people in the club can worry about choosing the coach."
Desailly calls on LaLiga to do more to protect Vinicius Junior
Marcel Desailly has called on LaLiga to do more to protect Real Madrid forward Vinicius Junior and other players who have been targeted by racist abuse.
Vinicius broke down at a press conference earlier this month as he opened up about the abuse he has received from the stands while representing Madrid.
The Brazil international is not alone in that regard, with team-mate Aurelien Tchouameni another example, and World Cup winner Desailly wants more to be done.
"Vinicius has spoken out, but it's not about him - it's about LaLiga and the people who can take action," he told Stats Perform.
"We have the power to change things, but we are not doing enough. Samuel Eto'o had the same issue before.
"Vinicius is one of those who is suffering because the administrative people in charge are not willing to hit harder than they are."
Vinicius has been a key player for LaLiga champions-elect Madrid once again this season with 13 goals and five assists in 23 outings.
Desailly regards Vinicius, who scored the winning goal in the 2022 Champions League final, as one of the finest players of his generation.
"He's a very ambitious player," Desailly said. "I think he's improved a lot because he is now clinical in assisting and finishing.
"When you look at someone like Ousmane Dembele, his stats are not as good.
"Then you look at Jadon Sancho, Bukayo Saka, another who has improved - there is potential for each of those to get close to Vinicius."
Ancelotti: Real Madrid are never 'undervalued' in the Champions League
Real Madrid always feel respected by every team in the Champions League, so says coach Carlo Ancelotti.
Madrid overcame holders Manchester City on penalties in the quarter-finals to tee up a last-four clash with Bundesliga giants Bayern Munich.
City dominated much of the second leg in Manchester, yet after a 4-4 draw on aggregate, it was Ancelotti's team who got over the line.
Fourteen-time European champions Madrid, who allowed Karim Benzema to leave for Saudi Arabia at the end of last season, were not fancied to get past City, but Ancelotti does not think his team have been undervalued in this year's competition.
"Madrid is never undervalued in this competition, because everyone knows what we can do," he said.
"We feel respect from everyone."
City's Bernardo Silva called Madrid a "strange" team, a comment that left Ancelotti nonplussed.
"I don't know. We are not strange," he added.
"I think the weight of the shirt weighs in this competition, like history, but I have nothing to answer Bernardo Silva with.
"He is a fantastic player. Last year [City] had a good time and this year we had a good time. That's football."
When it was put to him that Madrid go into this tie as favourites, Ancelotti replied: "It does not worry me. We have confidence to stand up to a team that has not had a great Bundesliga season, but has knocked out Arsenal.
"It comes from eliminating a very strong team in Europe. In the Champions League, history counts a lot and that works in our favour."
Ancelotti has faced Thomas Tuchel nine times in his career, winning three of those games, losing four and drawing twice, and the Italian anticipates another stern test.
He said: "In terms of quality, they are strong in transition, they can play in different ways and are very dangerous. We are two who do not have a very clear identity. We can both play in different ways."
Tuesday's first leg also marks a return to Munich for Ancelotti, who coached Bayern between 2016 and 2017.
"It is very beautiful, a fantastic city, although unfortunately German has never entered my head," Ancelotti said.
"My son did, he learned very well. Munich is a spectacular city to live in."
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