After losing the Carabao Cup final, Chris Waugh has claimed Newcastle United will keep looking to spend money in the upcoming transfer windows.

The Lowdown: Newcastle are still a long way from where they want to be

While Newcastle missed out on lifting their first piece of silverware since 1969 on Sunday it will likely only be the start of what is to come under the ambitious ownership of PIF who've already spent over £250 million since buying the club.

Amanda Staveley has taken to TalkSPORT to reassure Newcastle fans that their club will win the lot in the near future, despite having tasted yet another Wembley defeat.

Newcastle are certainly at the start of their journey as they were fighting relegation this time last season and have now reached a cup final and are pushing for a spot inside the top four, but their squad is still someway off the likes of Manchester United.

The Latest: PIF are wanting to keep progressing

Eddie Howe had to bring on the inexperienced Elliot Anderson and veteran Matt Ritchie on Sunday whereas Man United called upon the likes of Jadon Sancho and Marcel Sabitzer, highlighting the gulf in quality and that's why Waugh has claimed on Pod on the Tyne that there will be investment to come in the net few transfer windows.

He said: (30:00) "There are still areas of the team that need to be improved, Eddie Howe spoke about that after the game as well, he said we know the areas [that need improving] we're not going to panic just on the back of this match, we analyse every match every week and we know where we need to add quality.

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"There are still areas of the team that lack quality but they intend over the course of the next few windows to keep trying to address that and if they do, then I see no reason why Newcastle can't hopefully be back in the latter stages of competitions and competing in Europe, maybe even trying to get far in a European competition."

The Verdict: Tough decisions have to be made

While a lot of this current Newcastle squad have been through tough times and helped keep them in the division, not just last season, but for a number of campaigns under former owner Mike Ashley.

That means players like Matt Ritchie, Martin Dubravka, Javier Manquillo, Jamal Lewis and Jamal Lascelles all struggle for game time under Eddie Howe having started just once in the league between them this term.

Therefore, they need to cut their wage bill and make room for improvement to arrive this summer and for windows to come, otherwise, their meteoric rise will certainly be stagnated by deadwood players who can't help them take the next step.