January is upon us and over the coming weeks we will see just how much wiggle room there is for Newcastle United and their limited transfer kitty. After sitting at the negotiating table for Marc Guehi in the summer, Eddie Howe is pleading poverty as the Magpies wrestle with profit and sustainability rules [PSR] once more.

Newcastle find themselves close to their spending threshold again, despite significantly increasing their revenue streams, and the word from inside St James' Park is sales are required before the club can flex their financial muscles this month.

This, after back-to-back trading periods of seeing no new arrival that has bolstered Howe's starting XI. With that in mind, Chronicle Live assesses what's on the agenda for Newcastle and their decision makers this month.

READ MORE: Newcastle United pull off £130m masterstroke as Manchester United stunned

READ MORE: Burnley's James Trafford transfer stance as Newcastle United's £20m interest remains

Martin Dubravka call

Martin Dubravka is Newcastle's current No 1 as goalkeeping co-star Nick Pope recovers from a knee ligament injury but the Slovakian was close to the exit door during Euro 2024 over the summer. Fresh interest from emerge in his signature since then but now the former outcast finds himself firmly back in favour after impressing upon his return to first-team duty.

Dubravka has featured five times in recent weeks, conceding only a last-gasp consolation in the 3-1 Carabao Cup win over Brentford. It is therefore four clean sheets in four league outings, with Newcastle scoring 13 goals without reply.

Is it any wonder Howe is determined to keep the shot-stopper at St James' Park this month? Dubravka, who turns 36 in just a few weeks, is not the future and will likely depart Tyneside for one final challenge in the near future.

However, at present he is a vital part of this squad - and playing well too. That explains the recent interest from Saudi Arabia side, Al-Shabab, who are pushing to sign the veteran this month. Various reports in the Middle East have suggested an agreement has been reached for Dubravka' signature this month. Something those inside Newcastle have denied up to this point.

Had this interest arrived in the summer, it's likely Dubravka would have departed. Now, despite Newcastle employing five senior goalkeepers, it feels like a potentially risky move to let him go.

Emotional exits required

Howe has always sought to keep the bulk of his team together but even the fiercely loyal Newcastle boss knows that potentially emotional exits may be required in the coming days and weeks. Elliot Anderson and Yankuba Minteh were two painful departures over the summer, for entirely different reasons, but this time around it is the senior stars in Newcastle's dressing room that are being linked with exits.

Kieran Trippier, a player heavily tipped to seek a new challenge abroad over the summer, continues to attract interest, while talk of Sean Longstaff potentially departing to another Premier League side has grown recently. The academy graduate remains a key part of Howe's side but would attract a decent transfer fee should he bid farewell to his boyhood club.

The entire month does feel like it revolves around the future of Miguel Almiron, however. The wide man is another experienced player who is being admired from afar, with clubs in Argentina, Brazil, Greece, the United States and England being tipped to make a move.

Almiron's agent loves making his feelings clear on the airwaves and in recent weeks has covered all bases, insisting his client is happy to stay on Tyneside, but also wants a move to Europe, while isn't totally against a return to South America. Howe has made no secret of his love for the 30-year-old but his game time has massively dwindled in recent months.

Should Almiron leave, even for a fee of around half of the £20m Newcastle paid for him in 2019, it would open doors for the Magpies to go out and spend themselves, likely on an out and out right winger to replace the former Atlanta United man.

Defensive priority questioned

Newcastle spent a large chunk of the summer window attempting to strengthen at centre-back. Marc Guehi was the club's main man but there was also admiration for Malick Thiaw of AC Milan and Liverpool star Joe Gomez. Fast forward around six months and the club's burning need for reinforcements looks different.

Dan Burn has since moved back into the heart of the defence and been a standout performer at the back. Couple that with Sven Botman's return being imminent and Jamaal Lascelles also on track with his own Anterior Cruciate Ligament recovery and Newcastle are looking well stocked in defence.

In attack, however, questions still linger over who Howe's go-to right-winger is. That statement may sound peculiar given Jacob Murphy's stellar run of form but the 29-year-old has spent the majority of the season on the sidelines after failing to replicate a brilliant pre-season when competitive action rolled around back in August.

That has all changed in recent weeks with Murphy re-finding his scoring boots and performing exceptionally well to hold down that particular spot in Howe's XI. This, after Almiron, Anthony Gordon, Joelinton and Harvey Barnes were all used out on the right at various points.

The position in question is the only one Newcastle have not strengthened since the 2021 takeover. If there is only enough funding to bolster one role this month, a large majority of the St James' Park will be hoping it is on the right of Howe's frontline.

The summer saw ambitious interest in Michael Olise and Leroy Sane, while recent weeks have been dominated by a potential swoop for PSV flyer Johan Bakayoko.