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Newcastle transfer news: Magpies will only have a modest £50m January budget

Amanda Staveley
(Image credit: PA)

Newcastle's new owners do not intend to fund a sizable spending spree in January, according to reports.

Saudi Arabia's Public Investment Fund (PIF) completed the takeover of the northeast club earlier this month.

The deal was approved after the Premier League contentiously ruled that the PIF is a separate entity to the Saudi state, which has committed numerous human rights abuses.

With a net worth of £320bn, Newcastle now have the wealthiest owners in world football.

But the club's supporters should not expect to see any superstars arriving at St James' Park at the start of 2022.

According to the Daily Telegraph, the club will spend only £50m in January - despite having access to around £190m without breaking Financial Fair Play regulations.

The new owners want to build up the club gradually and will invest in the squad in a controlled manner.

That may come as a disappointment to those Newcastle fans who were hoping for the squad to be transformed in the winter window.

A fund of £50m means only two or three players are likely to arrive in the northeast when the transfer market reopens.

James Tarkowski, the Burnley centre-back who is out of contract at Turf Moor next summer, is one of the names under consideration.

Newcastle are currently 19th in the Premier League table and could face a sustained battle against relegation this season, despite the identity of their owners.

Steve Bruce will take charge of his 1000th game as a manager when Tottenham visit St James' Park on Sunday.

But Bruce is unlikely to remain at the helm for much longer, as a consortium headed by Amanda Staveley continues the search for a replacement.

The new manager will no doubt have a say in January recruitment, but it is safe to say we will not see Kylian Mbappe or Harry Kane lining up in a black-and-white shirt any time soon.

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