Right now they are trying to make a major signing that salvages their transfer window.
After finishing last season strongly, there was an expectation that the club would build on that success.
Instead, they have struggled to secure key signings, and most of their targets have ended up elsewhere.
The signing of Anthony Elanga from Nottingham Forest for £55 million was promising as it added pace and attacking depth to the attack. However, Newcastle have repeatedly missed out on players they were pursuing.
Brentford forward Bryan Mbeumo was one of their top targets, but he chose to join Manchester United. Joao Pedro was also at the very top of their list - but he moved to Chelsea. Recently, Hugo Ekitike has moved towards Liverpool instead of signing for them.
Additionally, Newcastle made a £25 million offer for Yoane Wissa - but Brentford have rejected it and are holding out for over £40 million.
This week, a move for goalkeeper James Trafford also fell apart. Newcastle matched Burnley’s £27 million valuation, but the player is set to join Manchester City instead.
Fans are becoming worried and rightly so.
Interest in Crystal Palace’s Marc Guehi has cooled despite serious intent in the last year. Tino Livramento, who had an impressive season, is now being closely monitored by Man City. Newcastle have opened talks over a new contract to avoid losing another important player.
Behind the scenes, things are far from settled. The departure of sporting director Paul Mitchell seems to have had a major impact.
It has left Eddie Howe and his nephew Andy, who leads the scouting department along with Steve Nixon, with more responsibility during a crucial window.
Recruitment that once felt clear and coordinated now appears reactive.
The biggest concern is the future of Alexander Isak. The Swedish striker scored 27 goals last season and is considered essential to the team. However, his representatives are unhappy and it stems from the fact that Anthony Gordon received a new and improved contract before him.
Isak is seeking a deal worth £300,000 per week, and so far the club has not met those demands.
Liverpool have shown serious interest, and there is growing speculation that a bid worth £150 million could arrive before the end of the window.
Isak has missed early pre-season, and that absence has only added to the uncertainty.
Gordon himself remains a target for Liverpool, despite signing a new deal. The idea of losing either player would be damaging. Losing both would be disastrous.
Newcastle’s immediate hopes may now rest on Benjamin Sesko.
The striker from RB Leipzig has become the club’s most high profile target.
He has the physicality and finishing ability that Newcastle need, and he fits the age profile the club prefers. Talks are ongoing, but Sesko has not yet made a decision.
He seems interested in the move but a worry for Newcastle is that he has also been considering another season in the Bundesliga.
Securing him would be a major boost. It would help settle nerves and restore belief in the project.
If they fail to sign him, and continue to lose ground elsewhere, Newcastle may find themselves underprepared for the challenges ahead.
The return to the Champions League should have been a turning point. Instead, it has highlighted just how far Newcastle still have to go.
Dean JonesFlashscore
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sign to arsenal my brother