Premier League

Since Newcastle United’s acquisition by Saudi Arabia’s Public Investment Fund in 2021, the club has transformed into a big spender in the transfer market. Although their 2024 summer window was relatively quiet, the Magpies have already signed four of their five most expensive players under new ownership. This includes record-breaking deals for Alexander Isak and Sandro Tonali, costing £63 million and £55 million respectively.

Historically, Newcastle has balanced its spending with profitable player sales, especially during the Premier League era. Notably, Andy Carroll’s £35 million move to Liverpool in 2011 marked a wise business decision for the club. A product of the Newcastle academy, Carroll had a stellar season that earned him praise from Newcastle legend Alan Shearer, who called him “unbelievable.” However, he struggled to replicate his form at Liverpool, and his current career in France’s lower divisions illustrates how well Newcastle timed his sale. In hindsight, Carroll’s transfer was one of Newcastle’s most astute moves, reflecting the club’s knack for profitable sales and strategic reinvestment.