Nick Woltemade for Newcastle
Since the Saudi PIF takeover in late October 2021, Newcastle United supporters have been on a rollercoaster ride - with the majority of the journey being positive.
From claiming silverware in the Carabao Cup to multiple seasons in the Champions League, it’s certainly been a period which was once a distant dream for the supporters.
The vast majority of their success has come as a result of the heavy spending in the transfer market, which has seen over £500m being spent on new additions in the last five years.
REUTERS/Scott Heppell
However, it’s safe to say not every one of their big-money investments have had the desired effect, as seen with one of the signings made a little over 12 months ago.
Why Woltemade is one of Newcastle's worst signings of the PIF era
After Alexander Isak’s controversial departure from Newcastle last summer, the Saudi PIF spent big to replace the Swede and secured the signature of striker Nick Woltemade.
The Magpies paid a reported £69m for the German’s signature last summer, with the early signs being extremely positive for the forward after his big-money transfer.
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He netted in three successive games during early October last year, but that was as good as it got for the 24-year-old attacker as he endured a tricky end to his debut campaign on Tyneside.
The forward only netted once in 2026, which even saw the talisman drop behind Will Osula in the pecking order and often had to rely upon minutes off the bench.
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Newcastle PL top scorers (2025/26)
Player
Bruno Guimaraes
Nick Woltemade
Harvey Barnes
Will Osula
Anthony Gordon
Malick Thiaw
Jacob Murphy
Jacob Ramsey
Given his mammoth transfer fee last summer, and his measly tally of just eight league goals, the German has currently cost the hierarchy around £8.6m per goal he’s scored.
The arrival of new boss Matthias Jaissle was seen as a positive for Woltemade, but after featuring for just 109 minutes following his compatriot’s appointment, he was allowed to leave.
As a result, the attacker was shipped out on loan to Italian side Juventus on deadline day, which showcases how much of a disappointment he’s been since moving to St James’ Park.
PIF have made a bigger blunder than Woltemade at Newcastle
After their heavy spending in their attempts to secure Premier League glory, Newcastle have often had to raise key funds to avoid suffering a point deduction.
As a result, numerous sales against the supporters’ will have taken place, with various talented youngsters departing St James’ Park and moving elsewhere in England.
st-james'-park-newcastle-stadium-biggest-in-uk
Elliot Anderson departed his boyhood club in the summer of 2024, subsequently joining Nottingham Forest in a move which undoubtedly streamlined his development.
As part of the PSR transfer, the Magpies secured the signing of goalkeeper Odysseas Vlachodimos from the Reds - subsequently forking out a reported £20m for his signature.
The deal handed the senior ranks a possible solution to the goalkeeping issue, but it’s safe to say the move for the Greek international has been nothing short of a disaster.
The 32-year-old has only managed to feature once for the Magpies in the last two seasons, with his only appearance for the club coming in the Carabao Cup back in 2024/25.
Even then, he was only introduced as a substitute as he replaced Martin Dubravka after he sustained an injury in the victory over AFC Wimbledon in October 2024.
Vlachodimos has not been seen since on Tyneside and subsequently spent last season on loan at Spanish side Sevilla, where he kept five clean sheets in 33 outings.
Newcastle United goalkeeper Vlachodimos Odysseas
The Greek shot-stopper has since returned to the LaLiga outfit on loan for the current campaign, and still has two years remaining on his current deal at St James’ Park.
To make matters worse for the Magpies, Anderson, who left as part of the swap deal, has since taken his career to astronomical levels and has become an England international.
The 23-year-old has even completed a £116m move to join Manchester City and has established himself as one of the Premier League’s best holding midfielders.
As a result, the deal for Vlachodimos will certainly go down as one of the worst since the Saudi PIF’s takeover, with the goalkeeper seemingly finished at St James’ Park.
It’s highly unlikely he will make another senior appearance on Tyneside, whilst the hierarchy would do well to even recruit a quarter of the fee paid for his signature two years ago.