Newcastle United boss Eddie Howe insists the club will operate under spending restrictions for “years” despite the wealth of their Saudi-backed owners.
The Magpies have so invested around £55million this summer on Lille defender Sven Botman, Burnley goalkeeper Nick Pope and a permanent deal for Aston Villa full-back Matt Targett – on top of the £94million they spent in the January window.
However, as they continue to chase more attacking reinforcements, head coach Howe said: “Financial Fair Play will impact us, will continue to impact us, I think, for a number of years.
“We haven’t got the free rein, the free hand that maybe has been perceived in the media, that we can go and sign whoever we want and pay extortionate fees and wages.
“We’re not in that position and I don’t think we will be for some period of time. We’re having to be creative and smart and try to make the right additions with the financial restraints that we have.”
Newcastle have so far had two bids for Leicester’s James Maddison rejected. They also saw Reims striker Hugo Ekitike opt to join Paris St German instead earlier in the summer.
Howe expects more Newcastle signings
And while Howe declined to comment on individual players, he said: “The situation has remained the same since we made our last signing. We’re working hard to try and add to the group. We are active in the market, and we’ll wait and see if we can add players before the window shuts.
“There’s no frustration from me aimed at the club. It’s the circumstances around it where we’ve missed out on a couple of players because they wanted to go elsewhere.
“That’s the delicate thing. There’s a whole host of things that have to drop for you. It’s an ever-moving thing, it’s always changing. I’m very confident we can do what we need to make the squad as strong as possible.”
Newcastle begin the new Premier League campaign with a home clash against new boys Nottingham Forest.