Newcastle have given Eddie Howe a long-term contract less than a year after handing him the task of keeping the relegation-threatened club in the Premier League.
The 44-year-old former Bournemouth manager, who was appointed head coach at St James’ Park in November on a deal running until 2024, has been rewarded for his early success on the eve of the new campaign.
A club statement issued on Friday afternoon said: “Newcastle United are delighted to confirm that head coach Eddie Howe has signed a new long-term contract at St James’ Park.
“Howe joined the Magpies in November 2021, shortly after a takeover of the club by an investment group comprising PIF, PCP Capital Partners and RB Sports & Media.
“The team was still pursuing its first Premier League win of the season at the time of Howe’s arrival, however he guided United to 11th place during the 2021-22 campaign, finishing 14 points clear of the bottom three and just two points off the top 10.”
Howe was backed with £94million in the January transfer window to recruit Kieran Trippier, Chris Wood, Dan Burn and Bruno Guimaraes on permanent deals and Matt Targett on loan.
He has since been allowed to invest a further £55million in Targett, Nick Pope and Sven Botman as the club’s 80 per cent Saudi-backed owners attempt to restore the club’s fortunes.
Howe said: “It’s a great feeling to commit my future to this incredible club. I’m extremely proud to be the head coach of Newcastle United and have enjoyed every moment here.
“I’d also like to extend my gratitude to our owners and to (sporting director) Dan Ashworth. We are still at the start of our journey, but this is an exciting time to be a part of Newcastle United and I’m very excited about the future together.”
Commenting on Howe’s new deal, the club’s shareholders said: “We are excited to have secured Eddie’s long-term future.
“He is a young, dynamic and ambitious coach who fits Newcastle United well. We look forward to working with him and supporting him as we strive towards achieving long-term success.”
But Howe warned that despite their perceived riches, the club, which is still targeting attacking reinforcements, will operate under spending restrictions for some time to come.
Speaking at his pre-match press conference earlier in the day, Howe said: “Financial Fair Play will impact us, will continue to impact us, I think, for a number of years.
“We haven’t got the free rein, the free hand that maybe has been perceived in the media, that we can go and sign whoever we want and pay extortionate fees and wages.
“We’re not in that position and I don’t think we will be for some period of time. We’re having to be creative and smart and try to make the right additions with the financial restraints that we have.”