When comparing the relative strengths of Premier League clubs, wage bills are invariably put forward as the most important factor.
Basically, the higher wages you can afford to pay to players, the better a club should be expected to do on the pitch.
So what should be the expectations for Newcastle United when trying to compete with the other Premier League clubs?
The Newcastle United owners releasing the latest accounts (for the 2024/25 season the year up to 30 June 2025) on Tuesday has seen a lot of analysis in the media across various aspects of NUFC.
Amongst the information in the latest accounts, the Newcastle United wage bill has been one of the things under scrutiny.
The Athletic producing this interesting overview when it comes to the Newcastle United wage bill, compared to those of their Premier League rivals: ‘[Newcastle United] Wages increased 11 per cent to £243.5m, though that still left Newcastle unchanged as the eighth-highest payer in England. In that context, finishing fifth represented an overachievement. Newcastle have now outperformed their wage bill in each of Eddie Howe’s three full seasons as the club’s head coach.’
The Newcastle United wage bill lower, substantially lower in many cases, than Arsenal, Liverpool, Tottenham, Man U, Man City, Aston Villa and Chelsea.
Yet Eddie Howe producing league finishes of fourth, seventh and fifth these last three Premier League seasons. Plus of course two cup finals, one trophy and the two Champions League qualifications via those Premier League placings against the odds, against the wage bill expectations.