I mean look, there is 100% a budget. Everton cried covid losses as I recall. City is accused of cheating the fuck out of it. Chelsea sells players for good money, has a bunch of commercial deals and snuck in 7 year amortization.
This is what I saw on Transfer Market.
Newcastle 2023 72M out so far 17M in.
Newcastle 2022 185M out 14M in.
Newcastle 2021 130.5M out ZERO in.