During the 2018/19 campaign, he appeared to take a step towards slightly increased spending, before allowing a whopping £65.61m to be spent the summer following.
This significant expenditure arguably started when they broke their club transfer record to sign Miguel Almiron from Atlanta United of the MLS.
They expected a skilful winger who could finish or create, however since moving to the Premier League he has never really recaptured that form.
In 131 appearances for the Magpies, he has only 17 goals and registered five assists, a combined total of less than his output during that one final season for his former club. Two of those goals came in the drubbing of Fulham on Saturday, including a potential goal of the season contender.
However, sadly the fact is that the Paraguayan hasn’t shown that sort of quality on a regular basis and if Newcastle want to be challenging for the European spots, they need someone with the magic Almiron demonstrated this weekend but on a more regular basis.
There are signs that the diminutive 28-year-old is finally starting to show his true colours but he has simply cost too much already to really deem this transfer a solid piece of business. He has been taking up a wage of around £42k-per-week, meaning he has cost the club £34m in salary and transfer fees during his 191-week stay in the north east.
Indeed, for every goal contribution that Almiron has delivered, Newcastle have essentially paid £1.5m.
With Rafa Benitez the man who brought him in, and Steve Bruce having continued to play him, now Eddie Howe is inundated with money, he must ditch this hard-working but ultimately “headless” – in the words of Steve Wraith – winger.
His poor form has also seen his value plummet, as he is now rated at just €15m (£13m) by CIES Football Observatory.
Under the previous managers, one could understand how one of the club’s most expensive purchases might have to feature as much as possible. Also, with the lack of money given, supporters were resigned to the fact that nobody of quality would be brought in to replace him.
However, under the new ownership, a cut-throat attitude must be undertaken to achieve the lofty ambitions they will surely have and as a result, it will be a surprise if Almiron features in their plans for too much longer.