Newcastle transfer chief Paul Mitchell has warned the club won’t be ripped off and “spend, spend, spend” - after pulling out of a deal to sign £70m-rated England defender Marc Guehi.
The new Sporting Director has come under-fire for failing to land a major name in the summer transfer window but refused to jeopardise the club’s future by overpaying.
Newcastle ’s strategy and patience were tested to the limit as Crystal Palace co-owner Steve Parish hiked the price for Guehi, leading Mitchell and head coach Eddie Howe to walk away from the deal.
Guehi’s value will now likely plunge with two years left on his contract and he could be available for £35-40m next summer, a huge loss for Palace shareholders to stomach.
Mitchell has outlined the spending strategy of the Saudi-funded Toon, after also wanting right winger Anthony Elanga from Nottingham Forest, a deal that could be revived in January.
However Mitchell will also “overhaul” and ramp up the Geordies’ global scouting reach to new areas so it competes with the best and finds “under-valued talent.”
Mitchell stated: “Is there a point of value for every single player and did this football club need to draw a line in the sand of “We’re not going to overpay? Probably.
“The [Newcastle tax] was a real thing. It's about setting precedents to the market that we will pay fair value for the right profile [of player] for sure. It shouldn't be misconceived of a lack of ambition, I just think that's the model you have to work in the modern game now.
“Iff we just spend, spend, spend, spend once again, we become accountable to that by penalties, fines and points deductions and that isn't good leadership, that isn't being a good custodian of the club, that isn't taking your role responsibly, you're being negligent. That is only for one thing, it's for your ego. We're not going to do that.
“We’ve signed some really good players (£250m worth since the Saudis took over). Could we say that some of those have cost more than they should have in the market? You could have that discussion.
Mitchell said Newcastle could come out and say they wanted a player and added: “But is it at any cost? Is it a financial risk to the organisation and our growth plan? I don’t think we should do that. I take that seriously.
“Would it have been easier to sit in front of you with all our hallmark signings that cost a load of money? Of course it would. But ultimately to have them at the detriment to Newcastle’s ability to grow and high strategic ambitions for Paul Mitchell’s glorification - that’s not the job I am paid to do. I’m paid to do a job for the short, medium and long term.”