Rafa Benitez landed his seventh signing â€“ but Newcastle ended up making a cash profit on the transfer window, reports Mirror Footballâ€™s Simon Bird.
Federico Fernandez, who played for Benitez at Napoli, was signed from Swansea for ÂŁ6m.
The deal means Newcastle have made of ÂŁ20m this summer while rivals have spend tens of millions.
That is despite Mike Ashley promising â€śevery last penny the club generatedâ€ť to Benitez for squad building.
Fernandez, 29, signed a two year deal and has 32 caps for Argentina.
Benitez said: â€śIt was an easy decision to bring him here. He is experienced, a very good professional and will add competition in defence.â€ť
Benitez missed out on many of his top targets but has arguably been left with a slightly stronger squad than this time last season.
He was denied big funds because he would not sign a new long term deal. Instead this is likely to be his last season on Tyneside, after also being denied cash to revamp the training ground and academy.
Fernandez said: â€śI am happy to be here. It is a new challenge and I am excited to meet all the players and staff.â€ť
Ashley is facing growing discontent from fans who are holding protests this weekend.
The club accounts indicated that United had a potential to spend ÂŁ50m and give Benitez a chance of pushing into the top eight, and challenge for cups.
Fans have launched a campaign asking: â€śWhereâ€™s all the money gone?â€ť
Newcastle banked ÂŁ123m from last seasonâ€™s Premier League campaign, make another ÂŁ40m, and have a wage bill under ÂŁ100m.
The club is cash rich and ready for a takeover if a buyer meets Ashleyâ€™s ÂŁ400m asking price.