Newcastle United's ability to truly compete in the summer transfer may not be decided by balance sheets and careful financial juggling, but by what they do ON the field in the next four months.

Eddie Howe's side have transformed their season from one of frustration and outright concern into a campaign brimming with promise and excitement. Now they must continue to build on that in the second half of the season, not only to keep tantalising hopes of silverware alive, but to ensure that they can go toe-to-toe with the elite when it comes to summer transfers.

We know the restrictions PSR and FFP regulations have put on United's spending, but that applies to all clubs. Newcastle's 'problem' is that they are less well equipped to offset any big spending with large chunks of revenue coming into the club. There is precious little scope in selling players without weakening the squad, and while commercial revenue is increasing, those changes take time to take effect.

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Therefore United must do eveything they can to make sure they're in the best position to compete in the summer - and that means a top-four finish and the lure of Champions League football. The club's scouting network have shown they can unearth top quality players - Bruno, Botman, Livramento, Hall - but as soon as United are battling with other top clubs for a signing then you fear the worst.

We know why top stars should sign for Newcastle, but let's be honest, we're biased. The cream of the crop may be fully aware of the United's stature in European football, but careers are short, and they don't need to take risks on signing for a club with potential when they have offers from Champions League sides with bulging trophy cabinets.

Players such as Lille forward Jonathan David are said to be on Newcastle's radar, with the Canada striker a free agent in the summer. But then, plenty of other Premier League sides, as well as some top European clubs, are ready to make their move too. United can make a tempting offer, no doubt, but only a place at Europe's top table will truly turn heads when it comes to negiations.

We've seen it already plenty of times. PSG have sealed a deal for one-time United target Khvicha Kvaratskhelia, Liverpool edged ahead of Newcastle to sign Giorgi Mamardashvili and Dominik Szoboszlai, Manchester City look to have won the race to sign Omar Marmoush and Abdukodir Khusanov . . . the list goes on.

It's a kind of pressure Newcastle should relish, however. Just like 2023, no one expected them to be in the race for the top four this season, and that surprise factor can work in their favour. There is a long way to go and some difficult away trips on the horizon - United must still go to Anfield, the Emirates and the Etihad - but we know the prize on offer if they are successful come May.

If Newcastle want to really be a part of the summer transfer conversation, they simply must realise the huge potential already in this squad and deliver a truly memorable first half of 2025.