Howe’s side sit all the way down in 14th in the Premier League, with qualification for European football next season looking unlikely.
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According to The Athletic’s David Ornstein, Newcastle will continue to back the Englishman but will evaluate in the summer.
The 48-year-old won the club’s first major trophy since 1969 with victory in the 2025 Carabao Cup, beating Liverpool in the final.
It’s understood that Howe still commands a lot of respect amongst the Newcastle hierarchy, and he will be included in the evaluation process.