The step forward is obviously all the success you listed, winning a cup and qualifying for the CL. The steps back was the debacle that was this transfer window - if the Summer has taught us anything it is how hamstrung the club are as a result of PSR. Not so much in what we can spend but more so in what wages we can offer players - time after time players chose other clubs over Newcastle mainly because we could not match what other clubs were offering. We also lost our best player as a direct result of PSR - we just were not able to pay him the wages arguably his talent deserved.
How Eddie managed to salvage this transfer window is beyond me. But there is no denying our 1st eleven is weaker without Isak.