PIF's January strategy at Newcastle United unveiled as supremo backs Eddie Howe to thrive

Newcastle United Chief Executive Officer Darren Eales admits that the Magpies "hate" the PSR rulebook that has essentially held the club back.

However, the United supremo has hailed the efforts of Eddie Howe for negotiating the tough conditions and working miracles on the training field to turn Lewis Hall and Tino Livramento from players Chelsea were prepared to sell into fully-fledged England stars. Eales has warned that another tough transfer window could lie in wait in January but insists that the Public Investment Fund will provide the maximum sums available.

Eales said: "We hate the words PSR. But it is what we have to work to and I think it has impacted us as a club perhaps more than other clubs. I think fans out there know that. We have two ways to grow.

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"We can grow the revenues, and there's two ways we can do that, commercially or through trading players. Then secondly it is about how we efficiently spend. It is almost unforgiving for us because we are walking that tightrope. We are trying to get there as quick as we can.

"We have an ownership that will commit - and we are very fortunate - the maximum available under PSR regulations. It's about how you spend that and you can't always do it in one window. Sometimes it ebbs and flows because of the financial three-year cycle."

Howe suffered a home defeat against West Ham on Monday and Newcastle head to Crystal Palace this weekend looking to get back in touch with the race for Europe. But it appears that Howe has the understanding of his board as Newcastle buckle down for the long hard winter.

Eales, speaking at the We Are United fan event, said: "It speaks for itself the work that Eddie has done. You've seen on the pitch with the results from going from a relegation spot to Champions League.

"Then carrying on from this season. We have done a really good job under Eddie. All the cup competitions are taken seriously and it's the first time ever we have had three straight quarter-finals in the League Cup.

"So Eddie has done an amazing job on the pitch and done it against a backdrop of PSR. But what I think and what I really love about Eddie is he gets the club, he gets the connection and what this club means to the city and the community.

"He is also collaborative and a manager that just thinks short-term and does think about the club understands that you have to make tough decisions. He is always doing through the lens of the club. Eddie has done a great job, we have had players getting into the national team, two full-backs with Tino Livramento and Lewis Hall.

"You can see how he has worked with those players and that is what we have to do in the future. We have to continue to develop players. That is how we are going to get where we want to get to as quickly as possible."