Newcastle transfer news: Eddie Howe backs out of race for £30m Brazil sensation

Those who keep up with the daily Newcastle transfer news will be familiar with the name Ederson. No, I'm not talking about the shot-stopper at Man City, but I'm talking about his countryman midfielder who plays for Atalanta. Newcastle United have shown a keen interest in bringing the midfielder to St James Park, but that looks to have come to an end.

That's right, according to an update from Football Insider, Newcastle United cannot afford to sign Ederson this January because his club Atalanta are demanding between £30m-£40m which is outside of their allocated budget.

It may seem counterintuitive to some that even after our takeover we "cannot afford" to sign a player who is only £30m, especially when you consider the needs of the squad. But the truth is that while the club can afford to spend £30m in theory, they cannot in practice due to FFP regulations. I will save my rant of FFP for a rainy day but let's just say, it;s unfair that teams cannot benefit from takeovers nowadays like Man City and Chelsea did beforehand.

So, what next for Newcastle? Wel, it goes without saying that we need to sign a midfielder in the January transfer window. But with time running thin and the options on the market not looking promising (within our budget, anyway), we will just have to sit and twiddle our thumbs, hoping a miracle arises.

Lewis Miley is doing a great job with the heavy workload. In an ideal world, Eddie Howe would limit his game time by bringing in an experienced midfielder who can play more regularly. So long as the youngster remains injury-free, though, this run in the first-team will only propel his development.

What do you make of today's Newcastle transfer news?