Newcastle United manager Eddie Howe has revealed the Magpies had done all the preparation to sign new Man City defender Abdukodir Khusanov this month.

Magpies sporting director Paul Mitchell is a big fan of the Uzbekistan international but Newcastle were unable to move this month because of their PSR (profit and sustainability rules) situation.

Newcastle were keen to sign the 20-year-old in the summer but instead City swooped in this month to take advantage of the situation and sealed his £33.5million transfer from French side Lens earlier this week.

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Garait Khasbiullin, the agent of the new Manchester City defender, claimed that Newcastle were close to landing Khusanov before City made their move.

Speaking to Championat, Khasbiullin said: "Newcastle was very close to a deal. They were even one of the favourites, and then they were the last to leave the race with City. As far as I understand, financial fair play also played a role. And they didn’t have enough time. Perhaps, if they had made an offer earlier, they would have managed to reach an agreement.

"Then City put so much pressure on Lens that it was difficult to make a comparable offer. The fact that the French needed this saving money also played a role."

Newcastle could sell Miguel Almiron and Lloyd Kelly this month as they look to improve their PSR picture. Almiron has been heavily linked with a move back to MLS side Atlanta United, while Juventus are keen to sign Kelly. However, those sales are unlikely to give Newcastle the freedom to improve their squad in January.

And speaking to the media this morning, Howe has said he is remaining pragmatic on Newcastle's transfer situation and admitted it looks unlikely there will be any incomings at St James' Park this month.

"I would never intentionally lie to the supporters or anybody," Howe said. "We are not in a position to be active in the market as we sit here now. That might change if something happens.

"We have done the work. We have identified players we would like to sign and we have spoken to the representatives. You have to do the process right as if you are then able to recruit you can't start from zero. So we are seeing players we have liked and identified and have targeted move to other clubs but that is part of the game."

City and Newcastle are currently battling against each other to finish in the top four, with Pep Guardiola's side ahead of Howe's side on goal difference heading into the weekend's fixtures.