Newcastle’s summer spending has shown intent.
The additions of Nico Woltemade, Yoane Wissa, Jacob Ramsey, Malick Thiaw, Anthony Elanga, and Aaron Ramsdale all signify ambition and squad strengthening.
Brentford striker Yoane Wissa
Yet, balancing PSR compliance with retaining homegrown or academy-developed talent still remains a challenge.
Unlike the early days of the PIF takeover, when huge sums were spent without the need to sell players, Newcastle must now closely adhere to the Premier League’s Profit and Sustainability Regulations (PSR).
Players who might have stayed for development or depth are sold for compliance, while in the Ashley era, sales were primarily profit-driven.
These different approaches mean that Newcastle have let some talented players slip through the net - some of whom have gone on to flourish elsewhere.
This tension between compliance and talent retention was evident with Elliot Anderson, and it’s echoed in the story of another Premier League star.
Elliot Anderson for Nottingham Forest
Both illustrate how Newcastle’s policies can inadvertently push talent towards rival clubs, where they thrive in ways they may not have done at St James’ Park.
One of their own: Elliot Anderson
Anderson’s exit to Nottingham Forest in 2024 was emblematic of Newcastle’s new realities.
The 22-year-old local talent came through the club’s junior ranks and had been earmarked as one for the future.
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Newcastle midfielder Elliot Anderson.
His transfer, which saw goalkeeper Odysseas Vlachodimos move in the opposite direction, was less about choice and more about balancing the books.
Jankuba Minteh was also reluctantly sold to Brighton, and in a mad dash to comply with regulations, potential moves for Anthony Gordon and Alexander Isak were even considered.
Despite the circumstances, Anderson has thrived at Nottingham Forest.
At Forest, he made 37 league appearances last season, contributing two goals and six assists.
According to FBref, his statistical impact is impressive.
He ranked in the 88th percentile for assists per 90 (0.19), 77th for shot-creating actions per 90 (3.07), 89th for successful take-ons per 90 (1.18), 88th for tackles per 90 (3.07), and 87th for clearances per 90 (2.40).
Anderson’s performances were rewarded with his first England call-up, having previously represented Scotland at youth level, and he impressed in midfield against both Andorra and Serbia.
Elliot Anderson vs Serbia and Andorra
Newcastle may well regret the decision, not because the transfer was financially impractical, but because Anderson’s trajectory shows the club missed out on a homegrown talent that flourished once given first-team opportunities elsewhere.
That said, there's another cautionary tale elsewhere.
Another cautionary tale for Newcastle
Matz Sels offers another example of Newcastle’s talent management challenges.
The 33-year-old goalkeeper joined Newcastle from Gent in 2016 but only made 14 appearances, sitting behind Karl Darlow in the pecking order.
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Matz Sels
A loan to Anderlecht followed, before a permanent departure to Strasbourg in 2018.
After years abroad, Sels returned to the Premier League with Nottingham Forest in 2024, in a deal worth approximately £5m.
There, he became one of the standout goalkeepers in England.
Playing every minute of Forest’s 38 Premier League matches, he helped the club secure European qualification.
Sels’ consistency was rewarded with the Premier League Golden Glove - shared with Arsenal’s David Raya - after 13 clean sheets.
Premier League clean sheet rank 2024-25 - Raya (timeless)
He also earned Forest’s Player of the Month award in February and was instrumental in a defensively resolute back four alongside Neco Williams, Nikola Milenković, Murillo, and Ola Aina.
As journalist Louis Wheeldon put it, Sels was the “best in the league” last season - a remarkable turnaround for a goalkeeper once considered peripheral at St James’ Park.
Clean Sheets - 2024/25
Goalkeeper
Matz Sels
David Raya
Jordan Pickford
Dean Henderson
Ederson
Robert Sanchez
Source: Statmuse
Statistically, Sels’ 2024/25 season was exceptional.
He ranked in the 78th percentile compared to his peers for save percentage (74.6%) and 67th percentile for clean sheet percentage (31.6%).
While traditionally a more classic, less ball-playing keeper, Sels’ shot-stopping and command of his area proved crucial in Forest’s defensive resilience.
Sels’ story, alongside Anderson’s, illustrates how Newcastle’s prior focus on sales for non-footballing reasons has allowed talent to slip through the net.
While PSR regulations now necessitate tough choices, these examples serve as a reminder that careful talent management is crucial.
Players like Anderson and Sels, who might have been peripheral at St James’ Park, have flourished when trusted with regular first-team football.
matz-sels-premier-league-nottingham-forest
Anderson’s midfield dynamism and Sels’ goalkeeping excellence are now key to Forest’s resurgence, emphasising that talent retention should not only be measured in financial terms but also in footballing impact.
As Newcastle continues to invest in a youthful, high-potential squad, the club must navigate the fine line between compliance and opportunity.
The lesson for Newcastle is clear: fostering talent within the club may offer rewards that outstrip immediate financial gain.
Failing to do so could mean more players slipping through the net and flourishing elsewhere.