Bruno Guimaraes has a special keepsake inside his home.

It is a top hat with the words ‘Bruno’s magic hat’ emblazoned across the front in reference to a chant Newcastle United supporters devised following his move from Lyon in 2022.

Guimaraes, himself, has proudly recited the words.

The Brazilian “could have signed for Arsenal“, goes the song, but he instead wanted to wear “the famous black and white”.

Newcastle capitalised by moving first for a player Mikel Arteta’s club had previously carried out background checks on.

Guimaraes even declared that Newcastle could become a bigger club at his unveiling news conference.

However, four and a half years on, Guimaraes has intimated his wish is to now move to the red half of north London.

Following high-profile departures of Sandro Tonali, Anthony Gordon and Alexander Isak in the past 12 months, could Newcastle really afford to lose their captain, too?

Rebuilding the squad was always on the cards at St James’ Park this summer.

Newcastle, fresh from a settlement with Uefa, have needed to sell in order to significantly reinvest.

Gordon completed a £69.3m move to Barcelona while Tonali joined Tottenham Hotspur in a deal worth up to £100m.

Such sales have helped to create headroom for Newcastle to spend within the game’s financial rules.

There is a cold argument that this could also be the right time to cash in on Guimaraes, who tuns 29 in November.

Yet that does not take into account the Brazilian’s true value to Newcastle as the team’s beating heart.

Newcastle have suffered plenty of defeats with Guimaraes in the side, but it is a little telling that the club have only won two of the 16 Premier League games their influential talisman has missed since he joined.

Without Guimaraes, Newcastle‘s win percentage (12.5%), points per game (0.7), average goals for (0.8) and even average goals against (1.6) all suffer in the top flight.

Although it is an admittedly larger sample size, Opta data shows that Newcastle‘s win percentage (50.7%), points per game (1.7), average goals for (1.9) and average goals against (1.3) have been significantly higher when Guimaraes has featured.

Given his importance, season ticket holder Liam Phillips said he would be “absolutely devastated” if Guimaraes moves on, particularly after the midfielder’s arrival signalled “hope and ambition” in 2022.

“His departure would be very symbolic in terms of what it says about the trajectory of the project,” he said.

“Newcastle have lost Isak, Gordon and Tonali in the last 12 months. To lose Bruno would be very alarming.”

A vision was set out to Guimaraes when he joined a club fighting relegation.

Newcastle‘s hierarchy at the time said they did not just want to go on to qualify for the Champions League – they ultimately wanted to win it.

Newcastle have twice since sat at Europe’s top table, but they are a long way off from taking that next step.

It was rather telling that Isak pushed hard to move to Liverpool, even after Newcastle secured Champions League football in 2025.

As much as Liverpool were able to offer Isak a huge wage increase, because of far superior revenues, the Swede also wanted to compete to win the biggest trophies.

Guimaraes appears to face a similar dilemma further on in his career following a bruising domestic season for Newcastle, who finished 12th in the Premier League.

Arsenal have yet to make contact with Newcastle, who do not want to lose the Brazilian, but does Guimaraes feel this is potentially the last chance he would have to win a Premier League title or the Champions League if they do come to the table?

As loved as Guimaraes is on Tyneside, does the 28-year-old have the patience to help lead a new era at Newcastle with a young group who will take time to flourish?

Newcastle had previously managed to keep hold of their most important players, but the side who made history by ending a seven-decade wait for a major domestic trophy in 2025 has broken up.

Of the 26 players pictured in a jubilant team photograph after the EFL Cup final win against Liverpool, 11 have left the club.

Some changes were overdue, yet there is also a delicate balance to strike.

Newcastle head coach Eddie Howe touched upon this in one of his final news conferences of last season when he warned “the squad can’t get weaker”.

The squad, as it is now, has clear gaps, but Newcastle are understood to have made progress on a move for exciting Freiburg midfielder Johan Manzambi.

Newcastle have also completed the signings of winger Bazoumana Toure, midfielder Sean Steur and goalkeeper Ewen Jaouen.

Turning to younger players from European clubs is a strategy others have adopted successfully.

Bournemouth, who finished sixth last season, have shown how clubs can recover from the loss of key players with the help of smart recruitment and good coaching.

But experience is needed, too, and Guimaraes is priceless to Newcastle in that regard. Losing him would mean the whole project is called into question.