On Saturday at St James’ Park, it will feel like all change after a summer of flux. Except on the pitch, that is.

There will be new faces in the directors’ box following Amanda Staveley and Mehrdad Ghodoussi’s departures as co-owners and Paul Mitchell’s arrival as sporting director; Adidas will be back as kit supplier; a 3,000-capacity fan zone will be open behind Gallowgate; and “Newcastle United” in retro font will be back above the East Stand.

Yet in all likelihood, the starting XI against Southampton will not feature a single “new” addition.

Five signings have been made, but one of those was the £28million ($36m) permanent acquisition of Lewis Hall. Of the other four incomings, two are backup goalkeepers, while William Osula is viewed as a project player. Lloyd Kelly is the only member of the quartet likely to start regularly.

After a gross outlay of around £415m during the first four post-takeover windows, Newcastle failed to make a signing in January and so far this summer have yet to markedly strengthen their first XI. The Premier League’s profit and sustainability rules (PSR) partly explain why, but their latest £60m offer for Crystal Palace centre-back Marc Guehi shows they still have capacity to invest. Off-field turbulence, which led to an executive restructuring and unsettled Howe, has also affected Newcastle’s business.

The result is a squad that, while appearing stronger than at points last season due to key players returning to fitness, is not appreciably deeper in quality. In fact, the likely XI to face Southampton actually appears weaker than the team that started the opener against Aston Villa last season.

CEO Darren Eales and Howe have both spoken about “evolving” the team, but evolution has been slower than anyone would have desired. The season is about to begin, yet questions persist throughout every area of the squad.

Newcastle's Goalkeeper Conundrum

No position encapsulates Newcastle’s perplexing summer better than the incomplete reshuffling of the goalkeeper department. Two players have arrived and only Loris Karius has departed, yet Nick Pope remains the undisputed No 1 and Newcastle do not appear stronger despite now having five senior shot-stoppers.

Martin Dubravka is still on Tyneside, at least for now, even though he has long been expected to depart and is stylistically unsuited to Howe’s preferred high-line strategy.

John Ruddy, the 37-year-old who was relegated from the Championship with Birmingham last season, was brought in as a No 3. It is hoped that his game time will be minimal and that he will aid Mark Gillespie in driving standards and providing much-needed leadership.

Odysseas Vlachodimos, meanwhile, was not part of the initial blueprint for this window. He did not feature prominently in recruitment discussions until Nottingham Forest made it clear that Newcastle had to sign someone in return if the East Midlands club were going to acquire Elliot Anderson for £35m in June. Anthony Elanga, the winger, was preferred but was unattainable, so Vlachodimos became the compromise purchase.

While the 30-year-old Greece international has performed well during pre-season, he is not a realistic challenger to Pope. He is not in the class of Arsenal’s Aaron Ramsdale — who Newcastle were keen on when European qualification appeared attainable — and he is not a goalkeeper for the future, such as Burnley’s James Trafford.

Instead, the restructure feels unfinished and, although it appears unlikely at this stage, bringing in another shot-stopper has never been entirely ruled out.

Pope will start on Saturday, but whichever goalkeeper makes the bench will be informative. If Dubravka is still deputy, then perhaps he will see out the final year of his deal. If Vlachodimos is the No 2, then Dubravka will surely leave.

The Guehi Chase and the Lack of a Right-Sided Center-Back

Newcastle’s inability to prise Guehi away from Palace yet is frustrating for supporters, but it is also concerning because of how necessary such an addition feels.

After conceding 62 top-flight goals last season and then losing Jamaal Lascelles, the squad captain, and Sven Botman, their best defender, to cruciate knee ligament injuries, reinforcing Newcastle’s cohort of centre-backs became Howe’s top priority.

Chelsea thwarted Newcastle’s attempts to lure Tosin Adarabioyo from Fulham, but Kelly has been reunited with Howe after his contract expired at Bournemouth. Kelly is the solitary summer addition (excluding Hall) who is likely to be a first-team regular in the short term, given his ball-playing ability, his recovery speed and his versatility, able to start at centre-half or left-back. Dan Burn, however, is likely to skipper the team as a left-sided centre-half.

Although Newcastle hold a long-term interest in AC Milan’s Malick Thiaw and are actively exploring alternative centre-back recruits, Guehi is their number one target. Three bids have been lodged but Palace are holding out for in excess of £65m.

Newcastle have known the asking price all along, yet their offers have fallen short and discussions between the clubs continue to drag on. Guehi, a 24-year-old with Premier League experience who can play in both centre-half positions, would represent a statement signing and his acquisition would completely transform perceptions of this window.

But a failure to bring Guehi in, or at least source a sufficient substitute, would mean Newcastle have gone through another window without bringing in a right-sided centre-half. Fabian Schar is 32 and into the final year of his deal and, while Emil Krafth has ably performed there, he is a right-back by trade so, until Lascelles and Botman return, Newcastle are short of options.

A Reshuffle at Full-Back

At full-back, the two prospects brought in last summer are set for increased game time in 2024-25.

Hall is still transitioning into his left-back role but has impressed during pre-season and will likely feature regularly, especially at home, with Kelly potentially being deployed on the road.

Tino Livramento, meanwhile, has featured regularly in recent weeks and is expected to start against his former employers. That is largely due to Kieran Trippier’s lack of pre-season action, following his extended break after representing England at the Euros, but also the on-field captain’s uncertain future. Aged 33 and into the final 12 months of his deal, the post-takeover standard-bearer has fielded interest from Saudi Arabia and may still depart. Should he stay, the 10 league assists he provided last season underscore his importance to Newcastle’s offensive gameplan, even if his defensive powers are waning.

Personnel-wise, there are likely to be two changes on Saturday from the back four who started against Villa last August. Schar will continue at centre-half, if he shakes off a knock, while Burn will shift inside from left-back in Botman’s absence. Hall is expected to take Burn’s vacated left-back berth, while Livramento will probably play ahead of Trippier.

A year ago, leaving Trippier out of the XI was unthinkable, but Newcastle’s non-linear evolution is underway.

A Midfield That's Already Deep

In January, given Sandro Tonali’s suspension and the ongoing injury crisis, midfield was the area Howe most desperately wanted to strengthen. Yet, heading into the summer, that was the position where Newcastle already boasted the greatest depth.

Tonali and, to a lesser extent, Joe Willock — whose 2023-24 campaign was ravaged by injuries — have been described internally as “being like new signings”. Although that phrase drew ridicule when used during Ashley’s ownership, there is definite justification for applying it to Tonali. The Italian has made only 12 appearances so far and, given his Champions League pedigree and having had 10 months to become fully accustomed to Howe’s methods, his in-possession quality can elevate the midfield.

But until August 29, Tonali remains ineligible, while Willock will be gradually reintroduced given his fitness issues. With Lewis Miley sidelined for six weeks with a foot injury and Anderson now having left, the midfield three pretty much picks itself.

Bruno Guimaraes’ £100million release clause was not activated before it expired in June — some figures inside Newcastle feared it would be — and, although Manchester City’s interest persists, the Brazilian has been promoted into the leadership group. The race to comply with PSR may have been fraught, but holding on to Guimaraes and other key players — while Aston Villa felt forced to sell Douglas Luiz — and forgoing a promising young midfielder instead was acknowledged as a best-case outcome internally.

Although Guimaraes has always excelled for Newcastle, he is elevated further when partnered by Joelinton. Having missed the second half of last season, Joelinton is fully fit and his physicality, athleticism and disruptive abilities are critical to the success of ‘Howe-ball’. At St James’, the Brazilian will be deployed in midfield but, on the road, Howe will use Joelinton as a left-winger on occasion.

That leaves the final spot to Sean Longstaff, who was among those available in June due to the “pure profit” he could have generated as an academy product. Longstaff’s long-term situation is uncertain, with less than 12 months left on his deal, and it is not inconceivable that the 26-year-old departs this summer.

Numerically, Newcastle are one midfielder down on last year given Anderson’s departure. With Tonali still unavailable and Willock’s fitness being managed carefully, Jamie Miley, Lewis’ 20-year-old brother, featured regularly during pre-season.

Come the end of the month, once Tonali returns and presuming Guimaraes stays, Newcastle’s midfield contingent should compare favourably with that of most of their Premier League rivals.

The Search for a Top-Level Right-Winger

If luring Michael Olise to Tyneside always seemed unlikely, Newcastle’s willingness to pursue the winger confirmed how ambitious the names at the top of their target list are.

But, despite interest in Elanga and Chelsea’s Noni Madueke, among others, Newcastle have not acquired the top-level right-winger Howe has been seeking. While other areas of the attack have been significantly upgraded in recent seasons, the right-sided forward berth had remained Miguel Almiron’s.

Now, however, he appears to have been usurped by Jacob Murphy. Five goals across pre-season means Murphy is Newcastle’s in-form attacker and Almiron, whose transfer to Charlotte FC collapsed, is likely to be among the substitutes against Southampton.

With 85 Premier League goals scored last season, Newcastle functioned well offensively, yet a higher-quality right-winger would bring a fresh dimension and really aid their attempts to return to the Champions League.

A Strong Attack, But Still Some Questions

Crucial to Newcastle’s success will be Alexander Isak. After scoring 25 goals in 2023-24, the Sweden international looked even sharper during pre-season. Chelsea may have enquired about the 24-year-old, but Newcastle never had any intention of selling him. The striker is deemed to be irreplaceable.

Callum Wilson, meanwhile, is still a Newcastle player, with the back injury he is currently out with highlighting why the club have been considering selling him. The 32-year-old is into the final 12 months of his contract and is rated highly by Howe, yet his fitness issues and age mean, PSR-wise, a sale would be prudent.

With William Osula acquired from Sheffield United, Wilson’s potential departure could be more readily accommodated, too. The 21-year-old is raw but stands at 6ft 4in (193cm) and can play across the frontline. A Mitchell-led signing, Osula ideally fits the profile of forward Newcastle were looking for: young, versatile and someone who Howe can develop.

Finally, to the relief of Howe and Newcastle supporters alike, Anthony Gordon is likely to complete the front three. The desperate nature of Newcastle’s PSR situation in late June led them to briefly discuss selling Gordon to Liverpool and, following internal fears the winger’s head had been turned, there were enduring concerns a deal may be revived.

Yet Newcastle never wanted to lose Gordon and intend to open contract talks with the 23-year-old, who scored 11 goals and assisted another 10 last season. He is their difference-maker and, able to play across the front line, Gordon is expected to be used on the right wing on occasion to permit Harvey Barnes game time.

A right-sided forward is required but, with Osula signed and Almiron and Wilson still on Tyneside, Howe does already have enviable attacking resources to call upon.

But, with little more than a fortnight left in the window, Newcastle’s summer business feels very much unfinished.