The positive spin - After ranting about the negative side we look at what the PSR scramble means going forward

Newcastle United raised over £70million in a frantic Sunday that saw the club fighting to comply with PSR.

The Magpies needed to fill what's now being reported as a £60million hole in their accounts ahead of Sunday night's PSR reporting year deadline.

Newcastle eventually did so by selling Elliot Anderson and Yankuba Minteh for a combined total of £68million. The club also released Dan Ashworth to Manchester United for an undisclosed fee meaning the club raised over £70million in one day while only spending a tiny amount, rumoured to be around £5million for goalkeeper Odysseas Vlachodimos.

Monday also saw the club confirm the permanent signing of Lewis Hall for £28million as well as signing fee agent John Ruddy.

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Newcastle have a decent transfer pot that they've barely touched yet

As bad as it was to see potentially good players going out and bang average players coming in, the fact remains that Newcastle have barely spent anything yet this summer. We're not including Lewis Hall as he was last season's acquisition and we imagine they budgeted for that already.

Despite my rant earlier, calling Eddie Howe's transfer judgment into question, it's also worth noting that we've replaced Loris Karius and Martin Dubravka who is certain now to leave, as well as found a backup for Sven Botman all without breaking the bank.

Thanks to those sales and cheap incoming, we now have what The Athletic have described as a 'decent capacity' to spend this summer, especially when you factor in the 39% revenue growth and the money incoming from the lucrative Adidas deal.

Newcastle still have a few more players they will look to move on this summer for decent money

Also this summer, Miguel Almiron looks to be on his way out and we could probably get up to £20million for him if he goes to Saudi Arabia plus a potential £18million for Callum Wilson who could be heading for the exit, and another few million for Kieran Trippier who we expect will also leave this summer.

Those sales will further bolster our spending power meaning we could still see some top-class talent come through the door with Newcastle needing a right-winger and two centre-forwards.

There's a long way to go in this transfer window and the club are building up a nice little transfer kitty to hopefully blow on big-name stars to ease fears that we will be nowhere near the Champions League places come May.