With the Magpies struggling for consistency in the Premier League – Saturday’s 4-2 defeat at Brentford saw them fall to 12th in the table – there is recognition that recruiting a new face or two next month would help give the squad a boost.

However, Premier League Profitability and Sustainability Rules (PSR) continue to dictate everything United can and can’t do.

In the summer, Newcastle were forced to sell Yankuba Minteh and Elliot Anderson to Brighton & Hove Albion and Nottingham Forest, respectively, for a combined £68million in order to comply with PSR. Failure to do so would have likely resulted in a points deduction.

Howe’s side spent the final month of the summer window attempting to sign Crystal Palace defender Marc Guehi but refused to meet his £70m asking price. The perception was United would have a similar amount to spend in January but Howe warned that isn’t the case.

Were Newcastle to buy in January, the suggestions are they would have to sell also in order to balance the books.

When asked if he feared selling a player he doesn’t want to lose, Howe replied: “What I will say is that trading is essential both in and out – to the model of PSR. The days where teams don’t sell players are, unless your revenue streams are so big, are gone.

“I think our revenue streams aren’t where we want them to be and we are still trying to grow them so I think trading in and out is going to be essential.

“Hopefully, it is not going to be players that we are forced to sell like we were in that situation (June with Anderson and Minteh) with a couple of days with deadlines approaching. Hopefully it is a more stable setting but you can’t guarantee anything.