Soccer-Financial rules keep teams like Newcastle quiet in January window

FILE PHOTO: Soccer Football - FA Cup - Fourth Round - Fulham v Newcastle United - Craven Cottage, London, Britain - January 27, 2024 Newcastle United manager Eddie Howe before the match Action Images via Reuters/Peter Cziborra/File Photo

MANCHESTER, England (Reuters) - Newcastle United have been quiet in the January transfer window despite their desire to sign a midfielder, but having to sell to buy amid tighter financial regulations and trepidation over the threat of points deductions has limited activity for most teams.

England's top clubs splashed out 815 million pounds ($1.03 billion) on players in January last year - almost double the amount in the same month of 2022. This January clubs had laid out just over 50 million pounds by the eve of the deadline.