Manchester United will have to pay Newcastle United compensation if they want to bring Eddie Howe to Old Trafford

Manchester United would reportedly have to pay Premier League rivals Newcastle United 'significant' compensation to appoint Eddie Howe as Michael Carrick's successor. That's according to Chronicle Live, following a closer look into Howe's departure from St. James' Park earlier this summer.

Newcastle were reluctant to lose Howe when he informed the board of his intention to depart back in July, yet ultimately accepted his wish to step down after five years at the helm. Reports claim Howe is on a two-man shortlist at Manchester United alongside former Germany manager Julian Nagelsmann.

Should Michael Carrick leave Old Trafford, Howe is said to be receptive to taking the reins at United - though it may not be entirely straightforward for the Reds.

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Chronicle Live reports that were Howe to move to their Premier League rivals, United would be required to pay compensation to Newcastle.

A "significant pay-out" is anticipated to be owed to Newcastle, given that Howe had several years remaining on his contract, with talkSPORT claiming that fee is around the £3million mark.

Howe was earning approximately £6m per year at Newcastle and was tied to a multi-year deal that was extended in summer 2024.

The potential pay-out could amount to millions flowing into Newcastle's coffers, particularly as United agreed to release backroom staff including Jason Tindall, Stephen Purches and Simon Weatherstone alongside him, amid speculation of them returning to management together.

Newcastle's statement in August read: "Newcastle United can announce that Eddie Howe has informed the club of his decision to step down as head coach.

"The club has accepted Eddie's decision and would like to thank him for his extraordinary contribution.

"Also leaving the club are coaches Jason Tindall, Graeme Jones, Stephen Purches and Simon Weatherstone, and head of performance Dan Hodges."

As things stand, Carrick is set to be given time to turn things around at Manchester United, and will be in the dugout for this weekend's game against Chelsea at Stamford Bridge.