Mike Ashley puts an end to several rumors as he reveals Newcastle’s summer budget

Newcastle United will be looking for bargain deals during this transfer window. Greedy Mike is at it again…

Newcastle United stunned everyone when they signed five players last summer and broke the bank by spending £40m to secure the services of Joelinton. The same spending spree, especially on one player, should not be expected this time around.

According to a new report from the Northern Echo, Steve Bruce has been told that he will only have £35m to work with in this transfer window. The primary reason for this financial limitation is linked to the current COVID-19 pandemic.

Sure, the pandemic has impacted every club in every league, but let’s face it, Mike Ashley does not want to spend large sums of money on a club he could sell soon. At least we hope the deal is approved and that it happens soon, but the Premier League has been dragging the process on for far too long.

So, going back to the figure of £35m, what exactly does this mean for Newcastle United and their transfer business? It means the club must tread carefully and invest wisely as every cent counts.

It is obvious that the Magpies need to upgrade their front line after only scoring 38 goals this season. That being said, fans should expect the majority of that money to be spent on a quality striker who can deliver. The first name that comes to mind is Callum Wilson, who should be available at a discount price now that Bournemouth are a Championship team.

In addition, fans should also expect Newcastle United to stick to their old habits of searching for free agents or players with inexpensive release clauses due to relegations in other leagues. This approach has annoyed fans in recent seasons, but Steve Nickson and the club’s scouts have found some top talent this way, such as Fabian Schar and Federico Fernandez. The hope is that they can do it again.

Lastly, with a budget of £35m, loan deals will certainly be a key component in the transfer strategy. Newcastle United usually wait until January to bring loanees in to provide a spark, but that plan will be implemented at the start of the season due to the aforementioned budget.

The transfer window opened yesterday. Multiple Premier League clubs have already conducted business from day one. Newcastle United must act quickly before too many teams identify and pursue similar targets.

Do you think Newcastle United can find some quality players with a budget of £35m, or should the Toon Army brace for a relegation battle next season? Let us know in the comments section below.