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By CRAIG HOPE Published: 23: 08 AEDT, 17 December 2024 | Updated: 23: 31 AEDT, 17 December 2024 11 View comments Eddie Howe says financial rules have ‘dramatically’ slowed the speed of the Newcastle project after initial talk of winning the Champions League. The Magpies are preparing for a Carabao Cup quarter-final at home to Brentford on Wednesday, with the prospect of ending the club’s 70-year wait for a domestic trophy motivating the head coach and his players. When the Saudi-led takeover was completed three years ago, the ownership declared an ambition to win the Premier League and Champions League ‘within five to 10 years’. However, because of Profit and Sustainability Rules and Associated Party Transaction restrictions, the reality of Newcastle’s situation is very different. They have not bought a first-team starter in the last two transfer windows. Howe does not want to put a ceiling on ambition within the club, but says there needs to be an external redrawing of expectation. ‘I’d say (financial rules) have had a dramatic effect on the speed of the journey, ’ said Howe. ‘I can’t deny that (speed) has dramatically changed due to the rules and you can feel that change, especially as everyone has got to grips with PSR and the actual reality of it. Eddie Howe says financial rules have ‘dramatically’ slowed the speed of the Newcastle project The Magpies have not bought a regular first-team starter in the last two transfer windows The Magpies are preparing for a Carabao Cup quarter-final at home to Brentford on Wednesday ‘The punishments became very real. There is nothing more sobering than the thought of a points deduction in terms of changing what you have to do to comply. That will affect our ability to change things as quickly as possible from a view of winning trophies. ’ Howe added: ‘But I don’t think a lowering of expectations has happened internally. There hasn’t been one moment where we’ve gone, “We can’t do this or we can’t achieve that”. Your players will soon pick up if you’re not ambitious. I always like to think the impossible is possible, especially with my players. I push them to believe we can achieve anything. ‘In saying that, there has to be some kind of realistic expectation externally, because the external expectation will harm us internally. The external view from media and everyone alike has to be moulded around our reality. Our reality has been very different in the last two transfer windows. ’ Howe took Newcastle to the Carabao Cup final in 2023 only to be beaten by Manchester United, and no manager since the club’s FA Cup final win in 1955 has led the team to two domestic semi-finals. ‘I desperately want to win a trophy for this football club, ’ said the Newcastle boss. ‘For the supporters here, for their patience, for the support since I’ve been at the club, nothing would please me more.   'We want to be the team that gets over the line and achieves something special. We do encourage the players to stand up and talk individually to the group, and it’s become very apparent there's the same will within all of them to win a trophy here. ‘I do feel we can still grab the season and have a very successful season. But games like this become pivotal to that. The positive energy we created against Leicester (4-0 win on Saturday), you want to sustain and you want to harvest - then we can achieve great things. ’ Published by Associated Newspapers Ltd Part of the Daily Mail, The Mail on Sunday & Metro Media Group