Newcastle Rocket Into Premier League Top Four For Spending - With More To Follow

Mike Ashley has finally loosened the pursestrings at Newcastle United - and with dramatic effect as the Magpies have hurtled into the top four for Premier League spending this summer, with more to follow. The £26.8 million lavished on Georginio Wijnaldum and Aleksandar Mitrovic - who completed his move to Tyneside on Tuesday - already puts Newcastle fourth in the Premier League spending stakes for the summer so far, while the imminent arrival of Chancel Mbemba for £7.5 million will see them secure that position even further. Only Manchester City (£67 million), Manchester United (£65.4 million) and Liverpool (£48 million) have spent more than Newcastle during this window to date. What's more the Magpies are targeting at least six signings in all - and they could potentially take their investment through the £50 million barrier by the time the window shuts at the end of August.

It is incredible to think that before Wijnaldum arrived from PSV Eindhoven for £14.5 million on July 11th, Steve McClaren was the only Premier League manager yet to have the honour of welcoming a new acquisition - yet now Newcastle are the fourth-highest spenders in the league. Ashley's promises on Sky Sports before Newcastle's final-day victory over West Ham United in May - a win that ensured they remained in the Premier League - appear to be coming true. The Sports Direct magnate and Magpies owner said:

"I will continue the policy of investing in the football club. "We have got the club on a very sound financial footing, so we are able to spend and punch above our weight thanks to the current financial situation the club finds itself in. "We may have the cart, financially, but we now need to bolt the horse on - and we are going to."

With £26.8 million already spent and potentially the same again to follow, Ashley's Magpies lieutenant Lee Charnley appears to have picked up the cart and bolted it firmly on to the proverbial horse - but only if those areas that still need to be strengthened are addressed. In fact, the third (Wijnaldum at £14.5 million) and fourth (Mitrovic at £12.3 million) most-expensive signings in Newcastle United's history have arrived in the past 10 days, while Ashley has also broken his own personal record spent on a single incoming during that time as well. True Newcastle have merely spent a portion of the TV money they receive from the Premier League, and many will argue they are still nowhere near to maximising their significant financial clout, but there has certainly been a change of recruitment policy in the last couple of weeks. Champions Chelsea's have spent just £12.5 million on players this summer, while perennial Champions League qualifiers Arsenal have only recruited Petr Cech for £10 million - both less than half Newcastle's spending to date. West Ham United have parted with in excess of £24 million to secure their six summer signings to date and are the Magpies' closest rivals in the spending stakes, but with Newcastle set to announce the arrival of Mbemba once work permit issues have been resolved, they will put clear daylight between themselves and the east London outfit.

McClaren also hinted in his interview with NUFCTV after Mitrovic was confirmed that more signings were to follow. He said:

"We've been working very hard behind the scenes. (The signings) have got to be the right ones and I believe with the two players we've brought in we€™ve got the right ones so far."

"So far" implies more players will soon be through the door at St James' Park - and then NUFC really would be showing the "statement of intent" he also claimed in his interview. Mike Ashley has played the first two cards in his hand brilliantly, but now he needs to go all in. If Newcastle finish the transfer window in the top four of the spending stakes then Ashley will have delivered on his promise - but only then. CLICK HERE to read "17 Things Newcastle Fans Need To Know About Aleksandar Mitrovic".For all the latest NUFC News, Views and Transfers make sure to follow whatculture.com/NUFC on Twitter and Facebook.