Newcastle United have suffered a double blow in their pursuit of their first marquee signing since taking over the club.
Newcastle have been linked with January moves for Juventus midfielder Aaron Ramsey and PSG forward Mauro Icardi, but despite their newfound wealth, both transfers are unlikely to happen.
Newcastle United have experienced their first major losses in the transfer market since the Saudi Arabia Public Investment Fund took over the club (PIF).
For the first time in 14 years, the Magpies have a new owner when the PIF purchased the club from Mike Ashley in a £300 million deal.
After having their bid accepted by Ashley in April 2020, the Saudis had to wait 18 months to complete the transaction.
The takeover was initially prohibited by the Premier League because the PIF failed the owner and director test.
The new owners are motivated for success, with frontwoman Amanda Staveley noting that the long-term goal is to win trophies.
However, the Toon have already suffered two transfer setbacks in their attempt to boost their squad in preparation for a European run.
Newcastle is 19th in the Premier League rankings after seven games and has yet to win this season.
According to journalist Fabrizio Romano, any January moves for January targets Aaron Ramsey and Mauro Icardi appear to be off the table.
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“As things stand now, no proposals from Newcastle’s new board for Aaron Ramsey or Mauro Icardi,” the Italian reporter tweeted.
“Icardi has no intention of leaving Paris Saint-Germain in the near future.”
“Ramsey’s future will be decided in December/January.”
Icardi’s chances of moving to Tyneside appear to be fading fast, while Newcastle will want to plan forward for January, and Ramsey’s flexibility does not help them.
The group will have to move on to other targets, but they may hold off until they know who will be guiding them forward.
With Frank Lampard, Brendan Rodgers, and Graham Potter all connected with a transfer up north, it’s clear that Steve Bruce’s days on Tyneside are limited.