Eddie Howe is happy for 'richest club in the world' Newcastle to go under the radar as they look to upstage their big-spending Premier League rivals.
The Magpies boss has endured a frustrating summer with little in-coming transfer activity in addition to having to sell young prospects Elliot Anderson and Yankuba Minteh for a combined £65m to remain within the league's profit and sustainability rules.
After failing with three bids for £70m-rated Crystal Palace defender Marc Guehi Newcastle are yet to bring in a marquee signing ahead of the new campaign, which they kick-off at home to Southampton on Saturday.
Despite their lack of spending as they work within strict financial budgets regardless of the bottomless pockets of their Saudi Arabian owners, Howe is confident his side can build on last season's seventh place finish as they aim for a repeat of their top fourth place two seasons ago.
The Magpies head coach said: 'Are we a dark horse this season? I don't know. When you look at some of the sums invested this summer, we're way off what some clubs have invested. That doesn't guarantee anything but it does maybe change expectations.
'We're continually called the richest club in the world, that we've got all this money but we haven't been able to spend it, we're restricted in our spending because of financial fair play.
'I'd probably prefer not to be among the fancied clubs this season, to be a dark horse is a narrative I'd take.'
Howe urged caution over the return of Sandro Tonali, Newcastle's Italian international midfielder who is nearing his comeback from a 10-month ban for breaching betting rules.
The 24-year-old could face Nottingham Forest at the end of the month if the second round Carabao Cup tie is pushed back to August 28, and Howe added: 'He'll be in a position to start games.
Howe urged caution over the return of Sandro Tonali, who is nearing his comeback
'Physically, he's very fit, he's in a really good place but that game sharpness you can only really get from playing matches.
'He'll be fit and ready to play but will he be in his absolute best condition? Probably not for another month.'