FROM DREAMS OF GLORY TO PSR FRUSTRATIONS ...THREE YEARS SINCE THE SAUDIS' TAKEOVER AT TOON

When the euphoria died, did those Newcastle dreams die too?

- SIMON BIRD

IT kicked off with wild celebration, flares and euphoria at St James' Park and led to a cup final and Champions League.

Then reality and Profit and Sustainability Rules - set in. So how has Mike Ashley's exit, on October 7 2021, and new Saudi Arabia ownership (left) changed Newcastle?

Can the new paymasters deliver a team that wins something, a team to rival the likes of Manchester City, Liverpool, Arsenal and Manchester United?

Boss Eddie Howe thinks they can, saying: "There's a lot of work going into the next phase of the takeover. The next phase of investment, which will be the long-term growth of the club. makes it a really exciting time to be associated with Newcastle.

"I think there's a lot going to happen in the future. The dreaded words of PSR just put a lid on what can be done now but I think the future looks very bright beyond that.

"Elite? I don't think we are there yet. When you look at revenue and wage bills and all the things that are sort of really key markers of longterm and consistent success, we're not there.

"I think we have to recognise where we currently are and we're striving to get there.

We're certainly not there yet.

"There is no guarantee that even with that investment you will win things, we all know that. But it gives you a much better chance. I wouldn't say impossible, but it has become very, very difficult to achieve what they initially thought they could achieve through no fault of their own."