Eddie Howe landing the club's first major trophy in 70 years is the clear highlight, though the glow from that win has dimmed somewhat after the sale of match-winner Alexander Isak a few months afterwards, followed by the loss of Anthony Gordon, Bruno Guimaraes and Sandro Tonali this summer.
PSR rules have hamstrung Newcastle financially
When the Saudi Public Investment Fund (PIF) took over the club from Mike Ashley, the mood around the city changed almost in an instant, and the style of football under Howe was light-years away from what the locals had been served up under Steve Bruce.
Unfortunately, dreams of the 'richest club in the world' becoming one of the most successful have never really materialised, due in no small part to the Premier League's introduction of its Profit and Sustainability Rules (PSR).
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It has hamstrung the owners quite considerably, and they've never really been able to flex their financial muscle as a result.
Howe clearly felt that it was the right time to leave this summer, after having the rug pulled from under him as the squad lost its best players, and now Matthias Jaissle, employed by PIF previously as the head coach of Saudi League side Al Ahli, is in charge of steering Newcastle through some choppy waters.
Thiaw courted by Premier League giants
Unbeaten in his opening four games in all competitions, Jaissle has quickly won the backing of the Toon Army, Newcastle's legendary and ultra-loyal band of supporters.
Time will tell if he can become as popular and successful as Howe, and that much will largely depend on his players.
One of those, Malick Thiaw, is interesting both Liverpool and Man Utd, according to reports.
The Reds will be aware that captain Virgil van Dijk celebrates his 36th birthday before the start of the 2027/28 season, so next summer may well be the right time to make a move for the 25-year-old German.
They will face competition from the Red Devils, who will likely allow Harry Maguire to move on, not to mention that the jury is still out over Matthijs de Ligt.
Newcastle aren't likely to be happy about the courting of their player, though it's perfectly understandable why the North West giants might be interested in Thiaw.
Stunning figures
Since joining the club in August 2025, no player in the Magpies squad has a better pass completion rate than the defender's 89.55 per cent, and that figure rises to an outrageous 93.85 per cent for passes completed in his own half.
His 151 headed clearances were only topped by his defensive colleagues Fabian Schar, Dan Burn and Sven Botman, whilst his clearances more generally (280) placed him third behind Schar's 283 and Burn's 470.
It's worth pointing out that Burn has played over 2,000 minutes more than Thiaw since the latter signed for the club.
With 65.67 per cent of his tackles won, too, Thiaw has the second-best return of any player in the Newcastle squad, behind Lewis Miley.
63.66 per cent of the German's one-on-one duels have been won successfully, whilst he's also won 180 of his 269 aerial battles.
Incredibly, only Isak, before he departed for Liverpool, had a better shot accuracy than Thiaw's 61.29 per cent, suggesting that it isn't just in defence where the 25-year-old excels.
Indeed, he's even completed 13 of his 14 dribbles for a 92.86 per cent success rate, which is by far the best in the squad. Only Miley comes close, and he is way back at 77.78 per cent success. Then comes Schar on 56.25 per cent, as if to drive the point home.
No need for Newcastle to sell
With the modern game often requiring defenders to have a little more than simply being able to outmuscle their direct opponent, that side of the player's skill set could well become just as valuable for Jaissle moving forward.
Having sold off the crown jewels this summer, one should expect that the Magpies will now be back on a more even keel financially.
There should be no need for them to sell one of their best players to another one of their direct rivals next summer, and with a contract until the summer of 2029, Newcastle are not under pressure to do so either.