The Telegraph has published a series of exclusive stories detailing Newcastle United's internal workings since the Saudi consortium takeover. These include: Emery's contact with Newcastle, selling players to avoid a major points deduction, internal disputes following executive departures, Howe's revival of dressing room morale, and the team's collapse following Isak's transfer saga. This is the first installment.

Five years ago, a consortium led by Saudi Arabia's Public Investment Fund completed its acquisition of Newcastle United. St. James' Park entered a new era, and the club enjoyed its most successful period in over seventy years.
With Howe's departure as manager this past summer, the first phase of the Saudi-led project has ended, but the club still has many exciting plans ahead.
A new training facility worth £190 million will begin construction next year, followed by finalization of a new stadium with a capacity of between 65,000 and 72,000, depending on the final design.
Coinciding with the fifth anniversary of the takeover, The Telegraph has revealed a series of previously untold internal stories, exposing hidden drama, crises, and internal conflicts during this pivotal period in Newcastle's history. The contents include:
1. Emery's rejection paved the way for Howe
2. Selling players to avoid a major points deduction
3. Ashworth and Staveley's departures triggered internal club disputes
4. Howe restored dressing room morale
5. The Isak transfer saga caused the team's collapse last season
Emery's Rejection Paved the Way for Howe
At the beginning of the takeover, there was great optimism throughout the club. After 14 bleak years under former owner Ashley and the departure of unpopular manager Steve Bruce, the new owners, led by consortium representative Staveley, began searching for a new head coach.
They initially believed Emery was the perfect candidate. The Spanish manager was coaching Villarreal at the time, and Newcastle were confident they had convinced him to take the job. However, this confidence proved misplaced. The club made its first mistake: leaking information to the media too early.
Emery withdrew at the last moment. On the evening of Villarreal's Champions League match that week, media reports claimed he had received an offer from Newcastle and would arrive on Tyneside within days for his first training session, which infuriated Emery. At the same time, he had significant concerns about the strength of the squad he would inherit.
Howe had also applied for the position at that time, and two panel members (including Saudi chairman Yasir Al-Rumayyan) listed him as their top choice. However, the club preferred Emery due to his higher profile and experience managing top clubs.
A senior source told The Telegraph: "Howe's interview was the best of them all. He was extremely thorough in his preparation. Other candidates spoke generally about their coaching philosophy, methods, and principles, but Eddie specifically tailored his solutions to the squad's current circumstances. He had already identified the squad's strengths and weaknesses, January transfer needs, and the type of players the club needed to strengthen."

However, the managerial search did not run smoothly. Howe later joked that Staveley apologized to him repeatedly for the club having approached Emery first. Nonetheless, many within the club had initial doubts. In January 2022, Newcastle lost at home to Cambridge United in the FA Cup, and a week later drew at home to Watford in the league. After the match, a member of the management team emotionally asked Howe: "What's happening... what are you doing?"
Howe reacted strongly at that moment. During that period, his team won only one of ten matches, and everyone was gripped by fear of relegation. In January that year, with newfound financial resources, Newcastle recruited Trippier, Wood, Targett, and Burn, but the most important signing was Guimaraes.
Howe initially doubted the Brazilian midfielder, believing Guimaraes lacked physical attributes; it was his nephew Andy and head of recruitment Steve Nickson who convinced him otherwise. This signing became one of the most significant shifts in the club's history: Guimaraes later became a core player, spiritual leader, and future captain.
The team bond formed during the relegation battle proved invaluable for Newcastle. Crisis did not create division; instead, it united everyone.
Staveley and Howe developed a very close relationship. With all the new signings, Newcastle reached a turning point. A 1-0 away victory against Leeds United changed the team's mentality, and they embarked on a seven-match unbeaten run. Howe excelled at capitalizing on this positive momentum.
In summer 2022, Newcastle recruited Isak, a striker that top clubs at that time were unwilling to take a risk on, along with goalkeeper Pope and center-back Botman. Isak was a player strongly backed by Howe, who pushed the deal throughout the summer, even when told the transfer fee was too high. This club-record £63 million signing made Isak Newcastle's best striker since Alan Shearer.
The recruitment work was remarkable. At the end of Howe's first full season as manager, Newcastle unexpectedly qualified for the Champions League and reached the 2022-23 League Cup final. Staveley once told those closest to him, "We have found our Sir Alex Ferguson."
Selling Players to Avoid a Major Points Deduction
At the end of the 2023-24 season, Newcastle knew they were in financial trouble and hoped another club would trigger Guimaraes' £100 million release clause to resolve the crisis.
According to insiders, "Everyone was aware the problem would come, but no one wanted to face it."
Forty-eight hours before the June financial deadline, no club had inquired about Guimaraes, let alone made a formal offer. Liverpool had expressed interest in recruiting Anthony Gordon but did not follow through. Newcastle's options were dwindling.
During that brief window, virtually every player in the squad was sold or close to being sold. The club even discussed transferring Isak to Chelsea and explored a swap deal involving Kilman and Elliot Anderson with Wolves, but neither gained substantial traction.
Ultimately, Staveley completed the £30 million transfer of Yankuba Minteh to Brighton. During negotiations, he even bluntly told Brighton's CEO, Paul Barber, over the phone that there was no need to haggle, as the team desperately needed the £30 million.
Although the deal was reached, the club still needed approximately £30 million more to meet financial requirements and avoid a 10-point deduction. The Saudi Public Investment Fund explicitly demanded that Newcastle not breach Premier League financial regulations. The initial takeover was already controversial, and any violation would result in severe negative public opinion and intense pressure.
CEO Darren Eales was responsible for driving the operation. Howe did not want to let Anderson leave but had no choice. He acknowledged that selling that player was "the most painful decision of my coaching career."
Newcastle initially wanted to swap Anderson with Elanga from Nottingham Forest, but Forest refused. Exploiting Newcastle's urgency to raise cash, Forest imposed harsh conditions: they would buy Anderson, but Newcastle must also take a backup goalkeeper no longer needed by Forest.
The deal was worth £35 million on paper, but Newcastle had to pay £20 million for Greek goalkeeper Vlachodimos. In reality, Forest spent only £15 million to acquire Anderson; this year, Forest sold Anderson to Manchester City for £116 million.
After completing the call, Eales finally obtained the funds and heaved a sigh of relief. He still needed to call Forest back to confirm the goalkeeper before confirming the deal to Howe and the board. Odysseas became Newcastle's most expensive goalkeeper in history but has made only one League Cup appearance and is now on loan at Sevilla.
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