Eddie Howe has gifted a Newcastle United chalice to the Magpies' next manager, but such has been the departing boss' success, it has become too poisoned to drink from for him. Howe walks away from St James' Park as the club's most successful manager of a generation, but his time in charge leaves a huge question of 'what next?' under PIF.
Howe's Arrival and Transformation
The 48-year-old arrived in November 2021 when enthusiasm was gathering momentum following the club's long-awaited takeover. Inheriting a squad that had not won all season and looked on a fast track to the Championship, Howe immediately set about transforming the fortunes of the Toon. A January cash injection saw Kieran Trippier, Bruno Guimaraes, Dan Burn and Chris Wood arrive in the North East, and Newcastle marched up the league for a midtable finish.
Despite £90million of winter spending, Howe's squad was still only valued at £269.17m by the end of that term. A journey of cup finals and Champions League qualification followed, and in 2025, Newcastle even ended a 70-year wait for a domestic trophy. Supporters were living through halcyon days.
Rise and Fall of Squad Value
A different calibre of player was on show at St James' Park as the Magpies laid claim to one of the best forwards and best midfields in the Premier League. Newcastle were able to attract Alexander Isak and signed Sandro Tonali. Howe unleashed Joelinton from a failed forward to a battling midfielder and stuck with Tonali during his difficult times as he eventually proved himself a top operator.
In the last 12 months, Howe has seen his assets stripped away. From a team on the rise, they are now at risk of simply becoming a platform to find something better. While Howe helped the team improve and boosted players' reputations and fees, that has also come at a cost.
Departures and New Reality
Newcastle spent big last summer for their second Champions League campaign. It never looked enough to battle at home and in Europe, but none of Nick Woltemade, Yoanne Wissa or Anthony Elanga were able to set the pitch alight. Despite some exciting Champions League action, poor performances in the Premier League ensured that momentum had started to stall.
Now, Tonali and Anthony Gordon have already departed to land £170m in Newcastle's coffers. Bruno Guimaraes could be next. Pundits and rivals will be quick to name Newcastle as a dark horse to once again be involved in a relegation battle. However, even with the mega-money exits, Newcastle's squad value stands at £531.48m, per transfermarkt. The difference on this occasion is that some of that is made up of highly regarded young talents who are unproven in the Premier League.
Opportunity for New Boss
In some ways, given the squad turnover and Howe's exit, the new boss will have a blank slate. But there will be potential to guide. Howe was a victim of his own success, but there lies an opportunity for whoever comes next without the responsibilities of European football. Nobody will expect Champions League qualification with what has transpired, and the truncated pre-season is not something to be envied, but hopefully, there is some talent in the building to galvanise.
