Report: Newcastle United Set for Two More Big-Name Signings as PIF Keeps Budget Plans Under Wraps Amid £105m
Newcastle United have made just one high-profile acquisition across their last four transfer windows — Anthony Elanga — but that may soon change. The Magpies are being heavily tipped to complete two more blockbuster signings before the close of the summer window, even as the club’s ownership group, the Public Investment Fund (PIF), remains tight-lipped about the precise spending limits amid Financial Fair Play considerations.
Despite recent frustrations in the transfer market, including failed pursuits of several high-profile targets, there’s growing optimism on Tyneside. Elanga’s arrival from Nottingham Forest for £55 million has injected excitement, but Newcastle boss Eddie Howe knows one marquee signing alone won’t be enough to sustain the ambitions of a club preparing for its return to the UEFA Champions League and looking to build on their Carabao Cup success from March.
Frustrating Market So Far, But Room for Major Deals Remains
This summer has seen Newcastle linked with a string of talented players — including Dean Huijsen, Liam Delap, Bryan Mbeumo, Joao Pedro, and Hugo Ekitike — but all have ended up elsewhere. However, according to The Chronicle, Newcastle still have financial flexibility to make further significant moves. Despite the lack of clarity from the board regarding exact figures, sources suggest the club is capable of funding two more signings on a scale similar to the Elanga deal.
Speaking during a Q&A session, senior reporter Lee Ryder stated:
> “I don’t think Newcastle would show their hand for obvious reasons. But it looks a lot better. I believe they have room to make another two signings as big as the Elanga deal. That would put them in strong shape heading into the new season.”
Still, Newcastle must be cautious. Profit and Sustainability Rules (PSR) remain a consideration. Under PSR regulations, Premier League clubs are not allowed to post losses exceeding £105 million over any rolling three-year period. While Newcastle are reportedly in a solid position relative to those rules, any significant spending will need to be balanced with outgoing transfers or boosted revenue.
Yoane Wissa Eyed as Next Major Arrival
One of the players who could follow Elanga to St James’ Park is Brentford forward Yoane Wissa. Newcastle have already had a £25 million bid rejected for the DR Congo international, but remain confident of reaching a deal. Wissa was in outstanding form last season, registering 19 goals in the Premier League and cementing his reputation as a dynamic attacking threat.
With Callum Wilson having departed and uncertainty still lingering around potential future moves for top striker Alexander Isak, Newcastle are in need of fresh firepower up front. Even if Isak remains at the club, the lack of depth in attack could be problematic for a team aiming to compete across multiple fronts next season.
Adding Wissa to a frontline already featuring Isak, Elanga, and the likes of Harvey Barnes and Anthony Gordon could give Howe’s side the depth and quality they’ve been lacking. Elanga brings raw pace and width, while Wissa would provide a direct goal threat through the middle or from wide positions — a dual threat that could prove vital across a demanding campaign.
Big Ambitions, Measured Approach
Newcastle’s ownership group appears to be taking a more restrained approach this summer, likely in response to both PSR constraints and lessons learned from previous windows. The club has demonstrated that it is capable of making major investments when necessary, but it is also clear that each move must be calculated.
With a transfer budget believed to be around £150 million and one £55 million deal already sealed, the Magpies have room for two more big splashes — if they can get the right deals over the line. Supporters can take comfort in the fact that while the board may be keeping its cards close to its chest, the intent to strengthen remains firm.
As the clock ticks toward deadline day, expect Newcastle to make their presence felt in the market. With European nights on the horizon and ambitions of becoming a Premier League powerhouse, two more statement signings could be exactly what the Toon Army needs to push the club into a new era of success.