By Danny Mills

7th Oct, 2021 | 5:00pm

Newcastle backed for '£200m' January spree after 'incredible' update - Mills

The new Newcastle United owners could spend “£200million” in January to avoid a relegation battle, according to Danny Mills.

Speaking exclusively to Football Insider, the ex-Middlesborough and England defender delivered his verdict after the latest update on the Saudi-led consortium’s takeover.

Sky Sports reported today (October 7) all parties were hopeful a deal can be announced imminently.

It will put to an end an 18-month saga that has left the club in limbo.

“All of a sudden, it’s come out of absolutely nowhere and it looks like it’s going to be ratified,” Mills told Football Insider‘s Connor Whitley.

“Even if the Saudi Arabians are cautious investors they may well spend £200million in the January transfer window because the last thing they will want to do is be in a relegation battle. I think it’s hugely exciting.

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“Be careful what you wish for sometimes. Sometimes it’s better the devil you know and Newcastle United fans will say that Mike Ashley has certainly been a devil in his time in charge.

“Newcastle fans will be absolutely delighted that he’s gone. There will be huge investment coming into the club. It will be in the infrastructure around the club, not just the starting XI. They’ll look at the academy, the training ground and the ground.

“I think it’s incredibly exciting for Newcastle and their fans. Newcastle fans will have taken just getting Mike Ashley out but now potentially they’ve got a huge pot of gold as well. It’s very, very exciting for them.

“But be warned, there may well be a bit of turmoil and that curve to success is never quite as smooth as you think.”

In other news, Newcastle United have been tipped to be the “entertainers” again as a Source drops a new manager update.