The transfer window has closed and it’s been a busy one for Newcastle United.
It’s been a summer of stress and frustration for Newcastle United, but the club has come out of the long, dark tunnel and into the light.
Losing star striker Alexander Isak is hardly ideal and not something anyone predicted a few short weeks ago, but a British record transfer of £125m is a good sweetener at least.
After several of Eddie Howe’s top targets were missed out on, Newcastle finally landed their striker reinforcements with record signing Nick Woltemade and deadline day arrival Yoane Wissa.
The duo join Anthony Elanga, Malick Thiaw, Jacob Ramsey, Park Seung-soo and Aaron Ramsdale at St. James’ Park in a busy summer that Newcastle will be glad to see the back of.
The club’s net spend does make for impressive reading, though.
Nick Woltemade in the stands at Elland Road to watch Newcastle against Leeds.
Photo by Jack Thomas/Getty Images
Newcastle United incomings in 2025 transfer window
Newcastle ended the season with eight new arrivals, six of which are for the first team, while two are seen as stars of the future.
The full list of new arrivals is:
Antonio Cordero – Malaga, free
Anthony Elanga – Nottingham Forest, £52m (rising to £55m)
Park Seung-soo – Suwon Bluewings, minimal undisclosed fee
Aaron Ramsdale – Southampton, loan (£4m fee)
Malick Thiaw – AC Milan, £30m (rising to £34.4m)
Jacob Ramsey – Aston Villa, £39m (rising to £43m)
Nick Woltemade – Stuttgart, £65m (rising to £69m)
Yoane Wissa – Brentford, £50m (rising to £55m)
Total spend: £240m (rising to £260.4m)
With a massive total outlay of over £260m, it’s by far the most PIF have spent on a single transfer window since buying the club in 2021.
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It’s still hard to tell if Newcastle have strengthened their squad enough to cope with the gruelling extra burden of the Champions League, though, while Woltemade and Wissa have a big task in replacing Isak.
Newcastle United outgoings in summer transfer window
Newcastle had operated smartly on the sales front in the transfer window, even before the humongous sale of Isak.
Earning £20m for Lloyd Kelly a year after signing him forfree and getting £15m for homegrown Sean Longstaff both go down as total profit under PSR rules.
Here’s every player who left the club in the transfer window:
Alexander Isak – Liverpool, £125m
Lloyd Kelly – Juventus, £20m
Sean Longstaff – Leeds United, £12m (rising to £15m)
Martin Dubravka – Burnley, undisclosed
Garang Kuol – Sparta Prague, undisclosed
Callum Wilson – West Ham United, free
Jamal Lewis – Released
Isaac Hayden – Released
Joe White – Leyton Orient, loan
Odysseas Vlachodimos – Sevilla, loan
Antonio Cordero – KVC Westerlo, loan
Aidan Harris – Coleraine FC, loan
Matt Targett – Middlesbrough, loan
Trevan Sanusi – FC Lorient, loan
Travis Hernes – Groningen, loan
Total earnings: £160.5m (rising to £163.5m)
Newcastle United net spend in 2025 summer transfer window
Taking into account the full transfer fees, including add-ons and bonuses, Newcastle have a net spend of £96.9m.
The figure could have been even higher if a proposed £30m transfer of William Osula to Eintracht Frankfurt had happened, but it didn’t come to pass.
Given Newcastle had a lot of room to operate under PSR this summer following a year of little spending, that’s a great return, even if it took the sale of Isak to make it possible.
With such a small net spend, Newcastle have scope to strengthen in the January transfer window, which could be a crucial boost amid a difficult and long season.
Other clubs might not have such a luxury, which could be a real advantage for the Magpies. Manchester City only fired their way into the top four last season after spending over £150m in January, so being able to spend midway through the season certainly helps.