Newcastle United are reportedly 'pressing ahead' with 'ambitious' investment plans both on and off the pitch in 2023.

The Lowdown: Cup final heartbreak

Newcastle supporters will still be wondering what could have been as they lost 2-0 to Manchester United in the Carabao Cup final at Wembley Stadium on Sunday evening.

They have not won a major domestic trophy since the FA Cup in the 1954/55 season, and the new owners will be hoping to put that right in their long-term project.

The Latest: Ambitious investment plans

Taking to Twitter, transfer expert Graeme Bailey says that the St James' Park outfit are 'pressing ahead' with 'ambitious' investment plans this year, as they look to 'heavily' bolstered their squad in the summer transfer window, and could also begin a multi club structure:

"Newcastle pressing ahead with ambitious 2023 investment plans. On pitch they will be looking to bolster squad heavily this summer. Multi club structure also remains part of the plans and that could also begin this year."

Writing in his corresponding piece for 90min, Bailey adds that the club are also 'working hard' on plans to expand St. James' Park, while as many as 'five or six' new signings are being targeted this summer.

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The Verdict: Exciting

The plans to accelerate the long-term project in the North East will come as very exciting news to the Toon Army.

Even though they lost out in the final to the Red Devils, supporters will want to have another taste of finals in the years to come, while in the longer term hopefully compete at the top of the Premier League and in Europe.

On top of that, the expansion of the stadium would attract even more supporters, and overall bring in more investment to the area, which would help see the club continue to grow.

Nonetheless, it is good to see that the owners are continuing to work hard behind the scenes, and the future certainly looks like a bright one for the Magpies.