Newcastle United have marked their five-year anniversary in an improved position after surviving a bump in the road in spring 2026. It was back in March when it became clear that this calendar year would be a trophy-less season and the prospect of Europe went from slim to none with a big question mark over the head of manager Eddie Howe. We didn't know it then but we'd be entering the final few months of Howe's successful stint in charge as one of the main faces of the club's 2021 takeover.
Howe's Exit and Jaissle's Arrival
Last season's 12th-place finish was not taken lightly by anybody at St James' Park or the club's main backers, PIF. A major summit meeting was held at Matfen Hall soon after the 7-2 drubbing in Barcelona confirmed that the unlikely prospect of winning the Champions League had ended in crushing style. By then, questions were being asked of Howe and the club's board, but it would take until July for things to become clear. Howe had opted against taking on what has since been described as a new "brave" transfer model with Matthias Jaissle stepping in as head coach in early August.
It is too early to judge the Jaissle era at this stage, but in the five years that have passed in PIF's leadership, some big milestones have been ticked off with other bigger accomplishments still on the wish-list. Here, Chronicle Live looks at how ownership has performed since its £305m purchase from Mike Ashley.
Transfers and Spending
Under the guidance of PIF, Newcastle have splashed out over £650m in transfers with some marquee signings along the way. There was fanciful talk of being able to sign Kylian Mbappe and other world superstars when the takeover first went through but despite the wealth of the Saudi-backers, playing within the PSR guidelines - unlike Man City - has been the desire.
That's not to mean there hasn't been some wow acquisitions. Signing Alexander Isak from Real Sociedad for £63m was one of the most exciting deals to date, with the Sweden international proving to be a hit on the field, before a controversial £125m sale to Liverpool, while the capture of Sandro Tonali made Europe sit up and take notice. Signings such as PIF's first, Kieran Trippier for just £12m or Dan Burn, another early at £13m from Brighton & Hove Albion helped lay the foundations on Tyneside and have turned out to be incredible pieces of business.
Since that point, United have got more right than wrong though not every deal has been a hit, with Newcastle paying a record £69m for Nick Woltemade before loaning him out to Juventus after failing to get him into sparkling form after a move from Stuttgart. Overall, Newcastle have bought well with stars like Lewis Hall, Tino Livramento and Anthony Gordon all going on to get England caps like Burn. But other deals, which were lower risk, include Harrison Ashby at £3m and Garang Kuol at £300,000 failing to hit the heights. Greek goalkeeper Odysseas Vlachodimos is the standout flop after Newcastle were forced into a deal to meet the PSR framework. They spluttered £25m on the keeper before loaning him to Sevilla.
The bigger picture will see Newcastle aiming to avoid UEFA sanctions when it comes to SCR rules and avoid having to sell stars like Elliot Anderson who left for just £35m to join Nottingham Forest before being sold to Manchester City for £116m with no sell on clause.
Stadium and Training Ground
We're still at St James' Park with a slightly improved capacity of 52,719 and more than £1m of ground improvements dotted around the famous old stadium. Newcastle paid around £25m for Leazes Terrace adjacent to St James' Park which leaves scope for further improvements with the East Stand but Toon insiders insist the purchase was to keep options open. Newcastle held a feasibility report in year three of the takeover and it was deemed by stadium chief Brad Miller that in theory, the ground's capacity could be increased further at the Gallowgate End at a great cost.
Moving next door to Leazes Park appears to be the preferred option but nothing has been officially decided. Newcastle chiefs ruled out a switch to Gosforth Park while talk of various ground shares in Edinburgh and even Sunderland have been dismissed. A new £1bn stadium would be the preference of some fans while others dream of a revamped St James' Park and enhanced Gallowgate End. This important - arguably the biggest - subject in the fanbase appears no closer five years into the takeover.
Job done on this one with Newcastle bringing in Knox Hydration as training ground sponsor with a three-year deal secured by CEO David Hopkinson in 2026. The partnership is set to run until 2029 and is worth £6million a year after almost five years of failure under previous commercial regimes to land a deal. Hopkinson said in July: "We are thrilled to welcome KNOX Hydration as a world-class partner. They share our relentless ambition to disrupt the status quo and reach the pinnacle of our respective industries. This isn't just a branding exercise; it's a performance-led partnership that will also support our community."
Some real progress but we aren't there yet on this one, with an agreement in place to purchase the Woolsington Hall estate as the site for a new world-class training complex. A club statement read in August: "The agreement follows a meticulous process to identify and secure a viable site, which is situated within the Newcastle city boundary and provides outstanding links to Newcastle International Airport and existing public transport network. The club will acquire 260 acres of land to the south of the airport, which includes a derelict listed country house and parkland. Subject to planning permission, the site will be carefully restored alongside the introduction of new elite performance facilities for the men's first team and Academy in a scheme totalling £190m. A formal planning application is expected to be submitted in early 2027 with a view to the men's first team moving in for the 2029/30 season."
Silverware and League Progress
After 70 years of trying, Newcastle finally won their first piece of domestic silverware in 2025 after beating Liverpool at Wembley 2-1. It was a day that brought tears to the eyes of even the most hardened Geordie fan as Dan Burn and Alexander Isak scored the goals to take the Carabao Cup. Newcastle got close to the same competition in 2023 when they lost 2-0 to Man United at Wembley on an off day for Howe's men.
The Magpies' best run in the FA Cup since the takeover was their venture to the quarter-finals when they were beaten 2-0 by Man City at the Etihad Stadium, when Bernardo Silva scored twice. Newcastle have not really came close to anything like a title challenge in the last five years with the 2022/23 campaign easily their best, finishing fourth and finding themselves second after Christmas but not being strong enough to see it out. Hopkinson has said on the record that he expects Newcastle to be challenging for the title by 2030. Even now that feels a long way off but not impossible if the club keep on investing.
Finishing 12th last season was the lowest under PIF with 11th (2022), 4th (2023), 7th (2024) and 5th (2025) underlining genuine progress. The highest position achieved under Mike Ashley's watch was a one-off top five finish when Alan Pardew was in charge with two relegations and some mid to low positions throughout a terrible 14 years in office for the Sports Direct tycoon. Newcastle sit in ninth place on the five-year anniversary of the takeover, a big improvement considering Steve Bruce's side were win-less and bottom in October 2021! If league form is the true barometer of a club then the progress is clear - but it also shows how far is still left to go.
