Eddie Howe must shed Newcastle's nearly-men tag: Neither Saudi owners nor Alexander Isak have the patience to remain also-rans as Carabao Cup final looms

Newcastle will feel they are better equipped to win the Carabao Cup now than two years ago, when they suffered a heart-breaking 2-0 final defeat to Manchester United. Howe's men appeared to be overawed by the occasion on that day, but will know exactly what to expect this time around, and won't fear Liverpool after dispatching Arsenal so handily in the semi-finals.

The Magpies produced two outstanding performances to beat the Gunnners 2-0 home and away, and will have a real chance of upsetting the odds if they reach the same level against Liverpool. Howe has, however, also been dealt an unfortunate hand heading into the final.

Star winger Anthony Gordon is suspended after seeing red in Newcastle's FA Cup fifth-round defeat to Brighton, Sven Botman is facing eight weeks out with a knee injury, and Lewis Hall has been ruled out for the remainder of the season due to a serious foot issue. It is unquestionably a nightmare scenario for Newcastle to have lost two key defenders and their most dangerous wideman for the biggest game of the season so far.

Despite that triple blow, Howe guided his team to a vital 1-0 win at West Ham on Monday that kept them firmly in the Champions League qualification race, and he issued an emotional rallying cry after the game: "A positive has to come from it for us to have any chance of being successful in the next few weeks. There is no question of us feeling sorry for ourselves. We believe in ourselves and we believe in the group. We believe in how we play and how we work. I believe in the characters of the players. I believe we’ve got a really special team and a special group of people. But we need to come together."

That strength of character is what makes Howe such a good manager. He keeps a cool head in the face of adversity, and his unflappable attitude filters down to the rest of the squad.

The ex-Bournemouth boss has created a real unity in the dressing room, and his tactical flexibility has ensured Newcastle are capable of competing against anyone in one-off games. But the argument could be made that the Magpies are no better off now than they were at this stage in Howe's first full season.

That campaign ended with Newcastle qualifying for the Champions League for the first time since 2003, and Howe was then given the license to spend £153m ($69m) in the summer transfer window. After such a large investment in the squad, a trophy and another top-four finish was the minimum goal.

Unfortunately, Newcastle fell well short of that last term, slumping to seventh in the Premier League while crashing out of the Champions League at the group stage. To make matters worse, marquee signing Sandro Tonali was hit with a 10-month football ban for breaching betting rules in Italy as Newcastle faced allegations of failing to do their due diligence before forking out £55m ($71m) on the AC Milan midfielder.

Newcastle have recovered well this season, boosted greatly by Tonali's return, but they're still way off the title pace. Howe has to significantly bridge the gap, starting from next season, or else his position in the dugout will come under serious threat.

According toThe Telegraph, Newcastle are all set to launch 'Project 2030': the second phase in PIF's bid to turn the club into genuine Premier League and Champions League contenders. PIF chairman Yasir Al-Rumayyan believes five years is a realistic timeframe for that ambitious goal, with Newcastle planning to bolster all areas of the squad in the summer window.

Players edging towards their mid-30s, such as Kieran Trippier, Callum Wilson and Fabian Schar, will likely be moved on, while other long-term servants like Joe Willock and Sean Longstaff could also be sacrificed to make room for new signings. Newcastle have already made moves to make sure they don't risk any breach of the Premier League's Profit and Sustainability Rules, having sold Elliot Anderson and Yankuba Minteh for a combined £65m ($84m) last summer, and Miguel Almiron and Lloyd Kelly in January for £28m ($36m).

Sporting director Paul Mitchell has been tasked with bringing down the average age of the squad, and Newcastle will be in a strong position when the market reopens. 'Project 2030' extends far beyond just matters on the pitch, though.

Newcastle are also hoping to build a new £1.5 billion ($1.9bn), 69,000-capacity stadium adjacent to St James' Park. A firm decision has not been made yet, and their back-up plan is to upgrade the current ground to a 60,000 seater for around £800m ($1bn), but the aim is to have one of the construction projects completed by the early 2030s.

All these steps are being taken to reduce the revenue gulf between Newcastle and the traditional 'Big Six', which remains huge despite the Magpies posting a record increase to £320m ($415m) in 2024.

The question is: will Howe be the frontman for 'Project 2030'? Some world-class managers have been linked with his increasingly attractive post over the past year, including Jose Mourinho, Massimiliano Allegri and Andoni Iraola.

Newcastle have the financial means to bring in the very best, but at the moment, Al-Rumayyan is happy with Howe. The Telegraph claims that the PIF chairman has faith in Howe's ability to transform the Magpies into serial trophy winners, despite the 47-year-old's lack of experience in that area.

Howe took Bournemouth from the brink of relegation to the National League all the way to the Premier League, and kept them in the top flight for five seasons, but only picked up one Championship title across his two spells at the club. Newcastle have undoubtedly improved on Howe's watch, too, having been locked in a relegation battle when he took over from Steve Bruce in October 2021, but no one really knows if he can take them to the next level.

Indeed, former Crystal Palace chairman Simon Jordan made headlines for giving his opinion on Howe's situation on talkSPORT this week, describing the English coach as a "gatekeeper" who will eventually be cast aside by the Newcastle bigwigs. If the Magpies run out of steam down the finishing straight this season and start the next one badly, It's easy to imagine Jordan's prediction coming true.

If Howe is to prove his doubters wrong, he must keep one man happy above all others: Newcastle's prolific Swedish frontman, Alexander Isak. The Magpies' club-record £63m capture of Isak in August 2022 has proven to be one of the best Premier League deals in recent memory, with the former Real Sociedad star plundering 57 goals in his first 99 appearances.

Twenty-two of those have come in the current campaign as Isak has solidified his standing as one of the best strikers in Europe. It has been reported that Newcastle will offer the 25-year-old a new contract this summer, with his current one due to expire in 2028, but he is also attracting interest from a host of top clubs, including Arsenal, Liverpool, Barcelona and Paris Saint-Germain.

Newcastle put a £150m (£200m) price tag on Isak's head to ward off potential suitors before the winter transfer window, and chief executive Darren Eales has insisted they have no intention of selling their prized asset this year. "We are striving, as a club, to be at the top table and we want our best players here," Eales told The Telegraph earlier this month.

But as he approaches the prime years of his career, Isak has to weigh up what is most important to him. If it's trophies, he will surely be tempted by a summer move, with most of the clubs chasing him already in the mix for domestic and European honours every single season.

Howe's future will look even more uncertain if Isak's head does turn. He's pretty much irreplaceable for Newcastle, and they wouldn't have a prayer of challenging the likes of Liverpool and Manchester City for the Premier League title without him.

To keep hold of Isak, and indeed other vital players like Bruno Guimaraes, Gordon, Tonali, Tino Livramento and Nick Pope, Newcastle have to show genuine progression. In that respect, the Carabao Cup final is extremely important, because defeat would not only extend the club's agonisingly long wait for tangible success, it would also leave the squad drained of confidence when they resume Premier League duties.

Fortunately, Newcastle may only need to finish fifth to secure Champions League football, with England currently leading UEFA's coefficient table for an extra qualification spot ahead of Spain, Italy, Germany and Portugal. But getting over the line won't be an easy task by any stretch of the imagination.

Reigning champions City occupy fifth at the moment on 47 points, ahead of Newcastle only on goal difference, with Chelsea sitting in fourth on 49 points and Nottingham Forest third on 51. Newcastle are due to face Aston Villa and Brighton - both of whom are also not yet out of the Champions League picture - along with Chelsea and Arsenal in their final six games of the campaign, and any slip-ups could prove costly.

The stakes couldn't be higher for Howe. There's no doubt he's among the finest homegrown coaches in the business, but to secure a place on Newcastle's rocket to the footballing stratosphere, Howe will have to prove himself as a winner - and quickly.