Newcastle's new owners could sanction a £190m spending spree in January, according to reports.
Saudi Arabia's Public Investment Fund (PIF) completed its takeover of the club this week, buying out Mike Ashley for £305m.
The controversial deal was granted approval after the PIF succeeded in convincing the Premier League that it is separate from the Saudi state, which has been accused of numerous human rights abuses.
According to the Daily Telegraph, Newcastle will be able to spend close to £200m in the winter window while remaining compliant with Financial Fair Play regulations.
That is in part down to Ashley's miserly approach to running the club in recent years.
And the size of their war chest means Newcastle believe Kylian Mbappe and Harry Kane are within reach.
Mbappe will be a free agent next summer unless he signs a new deal with PSG, with Real Madrid at the front of the queue for his signature.
Kane was targeted by Manchester City in the summer but Tottenham stood firm in their £150m valuation of the England captain.
Newcastle now have the richest owner in the world, but reports since the takeover was confirmed have suggested the plan is to grow the club organically.
That would presumably rule out offers for the likes of Mbappe and Kane, even if the money is there to buy them.
Moreover neither player is likely to be interested in joining the Magpies, who are unlikely to qualify for the Champions League this season.
Mbappe currently plays for one of the strongest teams in the world and Newcastle would be a clear step down.
Tottenham are also further ahead of the Magpies at present, and Kane's desire to seek pastures new would not extend to a spell at St James' Park.
It will certainly be interesting to see how active Newcastle are in the winter window, but sorting out a new manager is probably the priority for now.
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