Eddie Howe's revealing Newcastle United transfer statement amid Neymar and Cristiano Ronaldo links

The third-placed club faces another big summer in the transfer market ahead of a likely return to the Champions League.

Newcastle are 80%-owned Saudi Arabia's Public Investment Fund (PIF), but the club, working within financial fair play rules, is limited in what it can spend as its seeks to increase its commercial revenues.

And Howe has reiterated the club's position on marquee transfers amid speculation that PIF are keen on summer moves for Ronaldo and Neymar, who are playing for Al-Nassr and Paris Saint-Germain respectively.

“That kind of speculation has been there from day one since the takeover, really," said United's head coach, who dismissed talk of a move for Ronaldo before he left Manchester United in January's transfer window.

"Naturally, everyone has then assumed the biggest names in world football will be going to Newcastle.

“Now we've not recruited that way. I think, financially, we can't recruit that way at the moment, but also we have to bring the right people, and the right players, into the group.

“I'll say the transfer market is such a complex decision, you can't just pick a name and bring them in. There's got to be a lot of thought going into what we're doing both financially, and looking at the players."

United will continue to focus primarily on signing up-and-coming players with their best years ahead of them.

“It's best to discover them before they explode onto the world scene," said Howe. "We could not come close to affording those players, as they're the best players in the world.

"We are never going to be in a position currently to afford those transfer fees and wages, so we need to go underneath, and find them young and develop them into the players they can be. 

“I'll say the transfer market is such a complex decision, you can't just pick a name and bring them in. There's got to be a lot of thought going into what we're doing both financially and looking a the players."

On Ronaldo and Neymar, Howe added: "Those two players are unbelievable players.

"We're linked with different names. I know what direction I want to take the team in, and what we can and can’t do in the transfer market. A lot of the names will not be accurate.”