Newcastle spent in the region of £240m on new players 12 months ago, but Howe was left frustrated by the departure of striker Alexander Isak to Liverpool.
In January, he described losing Isak as “ever-challenging”, and in several media conferences stressed the need for reinforcements.
Howe has lost two key players this summer – Sandro Tonali to Tottenham and Anthony Gordon to Barcelona, while Arsenal are chasing captain Bruno Guimaraes.
Howe replaced Steve Bruce as manager in November 2021, and ended Newcastle’s 70-year wait for a major domestic trophy by winning the 2025 Carabao Cup.
He led the Magpies to Champions League qualification in 2023 and 2025.
Last season, Newcastle reached the last-16 of the Champions League before losing 8-3 on aggregate to Barcelona.
Their EFL Cup defence ended in the semi-finals, but their league performance was severely underwhelming after finishing fifth in 2024-25.
Newcastle won 84 of their 179 Premier League games under Howe, drawing 38 and losing 57.
He oversaw more Premier League wins than any other Newcastle manager. His Premier League win percentage of 46.9% at the club is bettered only by Kevin Keegan.