We know the dilemma. Newcastle United are unlikely to be able to make significant investment to their squad unless they sell players this window. The problem is, Eddie Howe is naturally wary of weakening his already thin squad by allowing players to leave.

Until United dramatically increase revenue streams, or see the benefits of plans already in place, then this delicate balance will remain. Howe's stance is understandable. He saw first-hand how difficult it was to guide an injury-ravaged squad through the trials of last season, and does not want to be left short with so much at stake over the coming months.

Howe trusts his players and, after working so closely with them on a day-to-day basis, is reluctant to allow too many to leave. We've seen with Martin Dubravka that the United boss stands by his players, and now Newcastle appear keen to keep Lloyd Kelly despite interest from Fenerbahce.

READ MORE: Thomas Frank breaks silence on Bryan Mbeumo transfer after 'concrete Newcastle United offer'

READ MORE: I would have broken Newcastle United's transfer record if my club got their way

No one wants to see big-name stars leave, even for astronomical amounts of money, so it is therefore inevitable the squad will have to be trimmed elsewhere - and that means considering bids for the likes of Kelly and Miguel Almiron.

That doesn't mean accepting bids which are below the club's valuation, of course, but United must be open to these deals. Selling Kelly and Almiron for around £15m and £10m respectively would go a long way to financing a new signing without jeopardising any PSR issues.

Take Kelly for instance. Howe already has to make a huge decision over who will start between Sven Botman, Fabian Schar and Dan Burn will all three are fit - and now has Emil Krafth back available as cover. Add in Jamaal Lascelles, who is expected to return in the spring, and youngster Alex Murphy, and United seem well stocked in central defence.

One of Kelly's key attributes is that he can also play left-back, but Matt Targett is now injury-free and United have the option of playing Kieran Trippier in that role too - after all he did shine for England out of position during EUR024. Burn and Alex Murphy can play at left-back, with Tino Livramento also an option in emergencies.

Almiron now appears to be a big step closer to the door with a £10m bid accepted. It's a brave move given Harvey Barnes' recent injury blow, but it's exactly the bold approach Newcastle must adopt.

It wouldn't be the first time, after all. In 2023, with United on course for a top-four finish and a Carbabao Cup final on the horizon, they allowed Chris Wood and Jonjo Shelvey to leave. It was the right move for the players, who were able to get more gametime at Nottingham Forest, and the right move for Newcastle who reinvested in Anthony Gordon. It's fair to say that paid off, even with Wood's impressive form two years on.

Of course the club, and sporting director Paul Mitchell who is tasked with these decisions, plan several transfer windows ahead, but they also must remain flexible to developing situations. Making £25m profit in January should not be sniffed at, even if it is something of a squad gamble.