Newcastle United have made a habit of proving any pre-window predictions on each transfer budget wrong. The ambitious Magpies' owners have already invested in excess of £250 million into the playing squad, with former AC Milan star Sandro Tonali the latest blockbuster recruit.
However, sporting director Dan Ashworth has already warned this level of spending will be unsustainable, pointing to the need to improve the club's academy and youth recruitment. Another alternative for Newcastle to consider is the sale of players, although it has been four years since the club last banked a substantial fee with the sale of Ayoze Perez.
Karl Darlow, Ryan Fraser and Jamaal Lascelles are among the squad options who could find themselves on the move before September 1 deadline. ChronicleLive previously confirmed six potential exits could be on the cards, while Allan Saint-Maximin's future remains the subject of speculation.
Newcastle's popular number 10 endured a frustrating season, and is no longer an automatic starter under Eddie Howe. The Magpies head coach is understood to be keen to keep Saint-Maximin at the club, although reports suggest offers will be considered for the 26-year-old.
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Financial Fair Play will again be a factor in determining Newcastle's level of investment in the current window, even though amortisation will spread the cost of Sandro Tonali's acquisition over the length of his five-year contract. In contrast, the full value of sales are recognised in the financial year, creating an incentive for Premier League clubs to become 'good sellers' as football finance expert Kieran Maguire explains.
He told ChronicleLive: "Because of the way player transactions are dealt with, if you buy a player, you spread the cost over the life of the contract. But when you sell a player, you recognise all of the profit in the financial year in which it takes place.
"That's why Everton were so desperate to sell Richarlison by June 30, 2022, because they were in deep trouble from an FFP viewpoint. That's why we've seen Chelsea be relatively early in the market with regards to some of their sales."
Chris Wood's loan move to Nottingham Forest has already been made permanent, not only freeing up space on Newcastle's wage bill but giving the recruitment team breathing room in terms of FFP. The New Zealand international's departure after just 18 months is the first instance of the Magpies banking a notable fee since Perez.
Further sales of a similar nature or greater are not likely among Newcastle's fringe players who are tipped to leave. Out off all of the rumours, Saint-Maximin - who still has three years to run on his contract - boasts the greatest FFP value and could give the club up to £25m to work with in their budget.
The Price of Football podcast host said: "Newcastle have some saleable assets should they wish to move some players on. When you sell a player, it's the difference between the sale proceeds and the book value of the player.
"The book value is the original transfer fee, less the amortisation charge to date. In the case of Saint-Maximin, his book value is around about £15m. So if they sell £40m, it gives you a profit of £25m which instantly goes into the books."
