The proposed transfer budget of Newcastle United has been slashed in half from £70 million to £35 million, according to the Northern Echo.
As per the outlet, it was anticipated at the beginning of 2020 that the Tyneside club would have a kitty of £70 million to go into the summer window, but that has now been re-calculated to £35 million based on the financial realities facing clubs because of the global pandemic outbreak.
Steve Bruce will also be able to raise funds through potential player sales, but this kind of budget may not be enough for him to get the players that he would perhaps have liked as he now may rely on loan deals, free and cut-price signings.
Indeed, there is also the uncertainty of the proposed takeover in the North East looming large, which would surely mean more disposable income able to be spent given the financial backing of the Kingdom of Saudi Arabian (KSA) group.
Will the takeover of Newcastle be approved?
The buying side of the £300 million deal with Mike Ashley consists of the Middle Easter crown prince Mohammed bin Salman (MbS), his country’s Public Investment Fund (PIF), the businesswoman and head of PCP Capital Partners Amanda Staveley and the billionaire Reuben brothers, who are originally from India but are now based in London.
Each would-be owner has an abundance of wealth behind them and may pump some of their own cash into funding deals, but until a final decision is made by the Premier League, then this is just purely speculation at this moment in time. Indeed, it was recently revealed that the Premier League have delayed a decision on the potential takeover (BBC Sport).
Members of the Toon Army will be hoping that the bid is eventually approved by the top flight so that the current £35 million figure could be improved for player purchases.
Geordies, is £35 million enough to get what you need in the market? Comment below!
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