It feels like a different situation. The last time Newcastle United were in the running for a place in the Champions League, the Magpies signed Anthony Gordon in January, 2023. By the time the mid-season window shuts on Monday night, there is the very real possibility that Newcastle will end a second successive trading period in profit.

Returning to Europe's top table may more lucrative than ever - financial experts estimate qualification alone would be worth at least €70m (£58.5m) - but those currently at the top at Newcastle are guarding against rolling the dice once more following the club's almighty PSR scare last summer. Senior figures have repeatedly stressed they do not want to find themselves in that position again even if that means the exits of Miguel Almiron and, potentially, Lloyd Kelly, in a late twist, leave Newcastle looking a little light in the final months of the campaign.

There is a familiar look to the side, as a result, following three straight windows without strengthening the starting line-up. Four of the XI who lined up in the 2-1 defeat against Fulham on Saturday were survivors from the Ashley era. Six of the starters were part of the team fighting relegation three years ago. The most recent addition in the starting line-up on Saturday? Lewis Hall, who arrived on loan, initially, in August, 2023.

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That is as much a tribute to these players' longevity - look at how Jacob Murphy has kicked on this season, for instance, or how Martin Dubravka has stepped up in Nick Pope's absence - but Howe's decision to name an unchanged side against Fulham did not come as a shock. This would have been the team that 95% of supporters would have predicted.

While that consistency of selection was a real strength during Newcastle's recent nine-game winning run, the black-and-whites have lacked genuine alternatives in key positions of late to change things in-game. Even Howe recognised that when Fulham peppered Newcastle's goal in search of an equaliser early in the second half.

"It [an equaliser] did feel inevitable, but it’s very difficult because I think in that moment, we don’t have a huge array of choices from the bench," the Newcastle boss told reporters. "You’re thinking, 'Let’s change something tactically or personnel wise', but we weren’t 100% sure that any change at that moment would make us stronger."

Raul Jimenez's leveller was the trigger for Howe to belatedly introduce Kieran Trippier and Joe Willock from the bench midway through the second half. Looking around, William Osula was the only natural forward in reserve, but the Dane did not enter the fray until the 87th minute because he is still developing at this level.

How Newcastle missed Callum Wilson, who is in line to return to the match day squad against Arsenal on Wednesday, and Harvey Barnes, who is out for another couple of weeks. However, the fact remains that substitutes have scored just two goals for Newcastle this season; only Everton and Crystal Palace's replacements have popped up with fewer in the Premier League.

Fulham, in contrast, used their bench to grab a winner late on - Andreas Pereira's free-kick was knocked in by fellow sub Rodrigo Muniz - and only Bournemouth's substitutes have had more goal involvements in the top-flight this year. That's why Marco Silva was hardly speaking out of turn when the Fulham manager declared his side were 'one of the best teams in this league for subs making an impact with goals'. "For us, it’s not just about the XI," he said. "It’s about the whole squad."

However, Newcastle had more than enough quality in their starting line-up to get the job done against Fulham. There were parallels with Newcastle's last home defeat against Bournemouth, namely the hosts' lack of control, but fatigue was no get-out this time. It was staggering that Fulham won 14 tackles and 58 duels; Newcastle, in contrast, won just two tackles and 31 duels. Jacob Murphy was the first to admit that 'we should be better than that' while Howe said there were 'no excuses'.

The tone of the game was set in the opening half-an-hour. Fulham enjoyed the lion's share of possession; Howe cut a frustrated figure on the touchline; and Newcastle mustered just one measly shot on target.

Sandro Tonali decided to take matters into his own hands and let fly from distance in the 35th minute. Tonali has only scored a handful of goals for Newcastle, but you would not have known it; the Italy international's powerful effort rattled the crossbar.

The strike may not have hit the back of the net, but it reawakened the crowd and appeared to give Newcastle a much-needed shot in the arm. The hosts were ahead just a minute later.

Dan Burn clipped the ball down the left channel and Anthony Gordon spun away from Timothy Castagne before racing ahead of Joachim Andersen and drilling the ball across goal. The cross evaded Alexander Isak but there was Jacob Murphy arriving on the scene to fire Newcastle in front.

It felt like a pivotal time to score, right before half-time, but only one side emerged after the break: Fulham. The second half had just got under way when Emile Smith Rowe was allowed to gallop forward and get a shot away, and Martin Dubravka had to get down low to parry.

If that was a warning, Newcastle did not heed it. Fulham went close once again in the 57th minute when Calvin Bassey launched the ball forward. Raul Jimenez was, somehow, able to take the ball down, but Fabian Schar recovered to deflect the striker's shot behind.

A goal felt inevitable, as Fulham attacked Newcastle's goal, and it finally arrived after the hour mark. Tonali's attempted pass was intercepted by Jimenez deep in Fulham's half and the visitors broke forward at pace. Jimenez picked out Traore out on the right and the forward's cross was hooked on by Antonee Robinson. There was Jimenez to catch it first-time with the aid of a deflection from Murphy that took the ball past Dubravka to level it up.

Fulham's equaliser was the cue for Howe to turn to his bench - throwing on Kieran Trippier and Joe Willock - and the substitutes were quickly involved in the thick of it. In fact, Willock had a glorious opportunity to put Newcastle back in front but whether he dummied the ball on purpose, or kicked the air, the midfielder failed to connect with Isak's cross.

Willock sought to atone for that miss by returning the favour and teeing up Isak with a quarter of an hour to go, but the Newcastle star's dipping effort bounced off the crossbar. It felt like a big moment - and so it proved.

Fulham were awarded a free-kick just a few minutes later. Andreas Pereira swung the ball into the box and Muniz prodded home at the near post to leave St James' stunned.