It was supposed to be a summer of refinement, not restructuring, for Newcastle United. Yet as Eddie Howe returned from holiday to discover that sporting director Paul Mitchell had departed unexpectedly, the plans laid out for a smooth and assertive transfer window quickly began to unravel.

Liverpool have now reached a formal agreement with Eintracht Frankfurt to sign Hugo Ekitiké (23).

The strength of the financial position means the club could plan this summer window knowing that it did not need to cut costs or balance books to remain compliant.