When Antonio Cordero met Newcastle United officials last week to dissect his failed loan spell at Belgian side KV Westerlo he was asked: what more could you have done?
Cordero is a player Newcastle really believe in. The 19-year-old was signed from Malaga last season from under the noses of Real Madrid and Barcelona but progress stalled in his first move away from St James’ Park.
Last week’s meeting was as a sign of intent. Cordero wasn’t to blame for his time in Belgium falling flat but Newcastle want standards to rise above the board. Getting loan moves right matters.
Since Ross Wilson was appointed in September, he’s asked questions of everybody. The theory is that Newcastle have work to do across every department to cement a place in the elite and no time to waste.
A review of loans has been part of that energetic start from Wilson. With the club committed to investing serious money in emerging talent over the next five years, they know they have to get it right. You only have to look at the success of Yankuba Minteh, sold at a £25m profit, to see the impact it can have.
‘Serious’ investment
Insiders believe the resources poured into Newcastle’s loan department – and the expertise at the fingertips of the dedicated staff – match almost any club in the Premier League. Chelsea, with their BlueCo multi-club model, are regarded as “top of the class” but Newcastle aren’t far behind.
Jack Ross, the club’s head of football strategy, is a big voice in loans and is well regarded internally.
Loans fall into three categories: moves with a view to players leaving the club, loans intended to give first-team experience and develop a young player and a third way – developing players with a view to increasing their value for a future sale. The last one is especially critical in the era of Profitability and Sustainability Rules (PSR).
Wilson’s loans review sought to identify which loans fell into which category and sparked the change of course with Cordero. After recalling him from Westerlo, Newcastle had approaches from five clubs but picked Cadiz so he would prosper in a playing environment he’s familiar with. With “buy in” from his new coach in Spain, the hope is he gets regular minutes in a league he knows and comes back better for it.
Due diligence
When Cordero’s loan flopped, a mini-inquest was carried out internally.
Some have questioned their loans strategy but the processes held up. Data, multiple meetings with Westerlo officials and continuous monitoring from sports science, medical and coaching staff went into trying to make it a success. Newcastle did what they could but ultimately the head coach just didn’t fancy him.
“We wouldn’t ask for assurances they would play – no one would do the same for us – so with all of these loans you have to accept a risk factor,” one source says.
The problem with loans is that sometimes plans change. Alex Murphy is a perfect example of Newcastle’s loan dilemma – better than under-23 football but not quite trusted at first team level yet. He needs minutes but plans to let him go out in January have had to be revised after Fabian Schar’s ankle injury.
PIF’S ‘partner clubs’
Those with knowledge of PIF’s thinking are adamant that the club’s aspiration is to develop a multi-club model. Chairman Yasir Al-Rumayyan is “fascinated” and “genuinely animated” about the prospect.
As part of a two-year project launched in 2024 to acquire more clubs, Newcastle isolated five markets as ripe for potential PIF expansion: Belgium, Denmark, Spain, Portugal and Brazil, taking into account style of play and Newcastle’s objectives.
The thinking originally was that this year would be the one where specific clubs were approached. But a change in the executive team and shifting short-term priorities (Newcastle’s mixed form earlier in the season) might have put those plans on the backburner for now.
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PIF’s processes – and the sheer amount of due diligence the group request before major investments – mean buying a club would take time. Interest in KV Oostende in 2024, for example, came to nothing despite Newcastle officials touring their facilities. But sources insist there remains an “appetite” for it if the right deals can be lined up.
In the meantime the club have made progress on informal partnerships in key markets, developing relationships in France, Belgium and the Netherlands that will be used in the future.
As one agent told The i Paper this week: “Newcastle were nowhere in this space three or four years ago but now, they’ve got a good reputation. Just look at Minteh.”
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