Newcastle United are now reportedly eyeing both Steven Gerrard and Paulo Fonseca as their potential new manager.

The Lowdown: Bruce gone?

According to The Daily Mail, the new owners at St James’ Park are now ready to pay the £8m needed in order to pay off Steve Bruce following the takeover so that he can leave his position as the Magpies' manager.

It is not yet clear whether he will still be in charge when they play Tottenham Hotspur at home in the Premier League next Sunday.

The Latest: Gerrard and Fonseca eyed

As per The Daily Mirror, Gerrard and Fonseca are the latest candidates that the Kingdom of Saudi Arabia (KSA) consortium are seeking to replace Bruce at Newcastle.

The Rangers boss in particular is understood to be 'intrigued' by a return to the Premier League, this time as a coach after his legendary spell as a Liverpool player.

The Verdict: Fonseca over Gerrard

If Newcastle had to pick between the two, they should go for Fonseca instead of Gerrard.

The latter has done very well in his relatively short managerial career so far, winning the Scottish Premiership title with Rangers last season, while he averages an impressive 2.11 points per match as a coach.

However, he has no experience of handling big budgets, with his record transfer outlay being Ryan Kent at £6.48m.

On the other hand, Fonseca has bought expensive players before, and so he would be much more suited to the excess of riches that the new manager at St James' Park is likely to be given.

He also has no fewer than nine major trophies to his name with three different clubs (Transfermarkt) and has been hailed as an 'international class tactician' by Sporting director Tiago Pinto.

Hiring Fonseca, who is a well-known name around European football, could certainly help to attract big-name players to Newcastle.

In other news, Newcastle have been dealt this managerial blow