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The manager's words faded.

"I recall walking around the practice facility when we arrived that initial period," remarked the team's manager last week. "It was…"

Howe was not suddenly getting misty-eyed, but reflecting on the efforts required to enhance the club's tired Benton base following his appointment almost four years back.

Newcastle had not long been acquired by a investment group from Saudi Arabia in a £305m deal.

The club had been labeled the wealthiest in the world by observers, but the reality on the ground was rather different as they battled relegation.

In a planning application to improve the facility a few months later, it was noted the training facility fell "significantly below the Premier League and perhaps even Championship standards".

The base has since been modernised with hydrotherapy and cold pools, a new canteen, a players' lounge and expanded locker rooms, among other features, but it is the team that has been completely revolutionized since then.

So what has evolved since the takeover and why did not the financial power of Newcastle's owners guarantee more success and trophies?

'We Need More but Things Will Change

Matt Ritchie sensed it.

He knew what could happen if Howe "took charge" and "had some firepower", after previously working with the manager at Bournemouth.

"When I first arrived, I would talk about Eddie Howe and Bournemouth," said the veteran attacker, who played for Newcastle between 2016 and 2024.

"The lads would say, 'come on, drop it, he couldn't be that good'. But I'd tell them there was no stone left unturned."

"I was so pleased that they experienced it. Without firsthand exposure, you can't fully appreciate you have never experienced such intensity. It's the meticulous planning, the planning and the drive for betterment - all the things that make Newcastle what they are now."

It has not been entirely smooth, of course, since Howe's arrival or the takeover a few weeks prior.

Newcastle, presently 15th in the Premier League, missed out on a number of targets during a draining summer window and lost striker Alexander Isak to Liverpool for a British record £125m.

The club do not have a sporting director after Paul Mitchell departed in June, following under twelve months in the post.

And the delay persists for updates concerning the future of St James' Park and construction of a modern training facility.

But this is a team that ended a 70-year drought to claim a significant cup back in March after winning the Carabao Cup by beating Liverpool.

They have secured entry to the Champions League in two of the past three seasons - achieving their biggest win in the competition against Union Saint-Gilloise this week - and only Manchester City, Liverpool and Arsenal have accumulated more points in the Premier League since Howe assumed control.

"Significant transformation just in terms of the overall atmosphere of the club," added Howe. "Naturally, the squad has evolved. Inevitably, teams progress and change over time."

"The way we're working behind the scenes as a football club is completely transformed but, additionally, if you examine the training ground here, there have been major enhancements. That's what the club needed and still needs."

"Further development is necessary, but progress will occur and slowly develop over time. It's a promising period for the football club."

Trying to Bridge Significant Income Disparity

Newcastle have expanded significantly off the field.

Revenue is projected to rise from £140m in 2021 to upward of £400m when the club's most recent financial reports are published in the coming months, while staff numbers have increased significantly to 550 in recent years.

There has been substantial investment in the academy and the female squad, while hundreds of millions have been pumped into the club to help with operational expenses.

But one question outsiders might be asking is why the wealth of their Saudi owners hasn't yielded greater success.

Though fresh acquisitions have joined - around £100m net was invested in the summer - this has been a moderately paced development.

"Since the new ownership were so wealthy, theoretically, a lot of people made an assumption that they were going to purchase success," stated a Newcastle fan analyst.

"Certainly, Newcastle have brought in some top-class players like Bruno Guimaraes and Sandro Tonali, but the progress of existing squad players and the signing of players like Dan Burn from the region to bolster that feeling around the club has been massive and crucial."

Such an strategy has been affected by Profit and Sustainability Rules (PSR), which restrict losses to £105m over a three-year cycle, so discovering methods to create additional flexibility will be crucial for Newcastle.

For perspective, Manchester United may have experienced their poorest season in more than four decades last season, but the club still generated historic income of £666.5m.

Digging deeper, Manchester United brought in £333.3m worth of commercial income and £160.3m in gate receipts.

Newcastle, by contrast, generated £83.6m and £50.1m respectively in their latest financial statements from 2023-24.

Acquisition 'Increased' Competitors' Worries

Manchester United have not necessarily made the most of their huge income streams, of course.

But, traditionally, the sides who invest higher amounts on wages pick up the most points per game in the Premier League.

Earlier challengers like Manchester City and Chelsea were able to dominate competitors with superior packages before the present regulations were introduced in 2013.

But Newcastle 'only' had the eighth largest salary bill in the Premier League just a few years back and the club came mightily close to a PSR breach in June 2024 following years of uneven financial management.

"I'm uncertain these are unforeseen results of the rules," said a football finance expert. "The more Machiavellian view of the Premier League is that the clubs at the top wished to prevent another City or Chelsea to emerge. This is a way of creating a glass ceiling."

Newcastle are going to have to operate a little differently - and that has been evident since the takeover.

In fact, an anonymous official previously contacted the Premier League on behalf of his club and multiple teams amid apprehension Newcastle could enter into lucrative sponsorship deals with Saudi Arabian companies.

He asked that notification was provided of a vote to introduce a temporary prohibition on related-party transactions just five days after the buy-out in 2021.

This senior figure openly admitted the Newcastle takeover "increased" worries and "encouraged the clubs to seek action" when he was later questioned by Manchester City's legal team.

Nobody Should Justify Saudi Human Rights Record

The associated party transaction rules have been revised and remain in place.

But Newcastle's new CEO, David Hopkinson, has set out to find ways to realize the club's "untapped business opportunities".

That has been expected to close friend Tom Pistore, who worked with the Canadian at Maple Leaf Sports & Entertainment.

"Our group under his leadership were always trying to focus on how do we continue to evolve?" he said. "Maintaining current state keeps you stationary so it was about remaining innovative in business and partnership relationships, innovation, digital and ticketing."

"As the landscape changed, David was always very forward facing with a curious interest in new concepts. Innovative, but not bleeding edge were terms we often talked about in watching someone have the first stab at something and then having a proper evaluation."

Hopkinson, who formerly held positions as president and chief operating officer at Madison Square Garden Sports and head of global partnerships at Real Madrid, wants to position Newcastle "with global top clubs".

That remains the future goal of chairman Yasir Al-Rumayyan, the head of the Saudi Arabian Public Investment Fund (PIF) - who own a majority stake in the club - as well as co-investor Jamie Reuben.

But a human rights campaigner said "goals and glory are distracting from executions and repression" after a historic number were executed in Saudi Arabia last year.

"This was never just about football," he added. "It's about leveraging the worldwide reputation of the Premier League to sanitise a brutal human rights record."

A political representative was the first to admit she "would not select Saudi Arabia as the owners of the club".

However, she emphasized supporters were the "final individuals who get to choose".

"With financial prioritization, which the Premier League have, those with the greatest wealth will ultimately acquire the prestigious teams like Newcastle United," she said.

"But no-one should be expected to justify, support, or excuse Saudi Arabia's human rights record."