Wijnaldum Just The Beginning For Newcastle

"I will continue the policy of investing in the football club. We have got the club on a very sound financial footing, so we are able to spend and punch above our weight thanks to the current financial situation the club finds itself in. We may have the cart, financially, but we now need to bolt the horse on, and we are going to." In admitting the blame for Newcastle's disappointing campaign last season lay at his feet and his feet only, chairman Mike Ashley promised to invest. The Toon Army was collectively stunned. Rightly so, of course. Since Ashley added Newcastle to his business empire, 'investment' has hardly been the buzzword. £149.6million has been spent on players over the last eight seasons at St James' Park, while £169.75m has been recouped in player sales. The net spend of -£20.15m is ludicrous for a club of such ambitions. In truth, it's quite ludicrous for a Premier League club full stop. Of the 20 clubs currently residing in England's top tier, only recently promoted Watford boast a more profitable net spend over the past eight seasons (-£21.7m). Bournemouth (+£3m) and Norwich (+£35.27m) eclipse them over a similar timeframe, while, of the relatively established clubs, only Swansea (+£11.54m) and Southampton (+£21.62m) come close. Seeing their bitter rivals Sunderland struggle despite an expenditure of £102.13m since 2007 will provide little consolation. It does however prove that it's not only investment that has been lacking from Ashley, but investment in the right places. Spending money is all well and good, but it needs to be spent wisely. Which is where the recent acquisition of PSV captain Georginio Wijnaldum comes in. Not since Michael Owen in 2005 have the Toon spent so much on one player. The Dutchman ranks third behind Alan Shearer in Newcastle's all-time most expensive signings.
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