By Kieran Maguire

25th Jun, 2021 | 4:00pm

Kieran Maguire expects mega spending at Saudi-backed Newcastle amid major takeover update

A post-takeover Newcastle United would initially be able to spend just as freely as Everton did when they were bought out in 2016.

That is according to finance guru and Football Insider columnist Kieran Maguire, speaking exclusively about similarities between the two clubs.

A Newcastle source told this site on 8th June that Rafael Benitez has been lined up for a return to Newcastle should a PiF takeover go through.

And Football Insider later broke news on 19th June that Benitez’s advisors had urged him to reject a job offer from Everton and wait for Newcastle.

But, as revealed by this site today (25th June), the Spaniard is set to resist the pull of a second spell at a post-takeover St. James’ Park.

The former Liverpool boss has instead told friends that he plans to accept the Goodison offer despite a backlash from supporters.

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Maguire claims that Everton and Newcastle would be broadly analogous in terms of their initial spending power following a takeover.

“I think they would be only slightly different,” he told Football Insider correspondent Adam Williams.

“Everton have already been through the process of being taken over and had the rocket boosters turned on in terms of their spending.

“I don’t think Newcastle would be shackled [by financial fair play] initially. That’s because, for all his faults, Mike Ashley will leave behind a company that has a lot of wiggle room in terms of FFP.

“Everton have been through that. Bill Kenwright ran a fairly tight ship which meant that Farhad Moshiri was able to accelerate spending.

“If somebody does take over at Newcastle, they will be able to put their foot on the gas in terms of spending.

“They have that flexibility because you’re allowed that loss of £105million under FFP over three years.

In other news, Newcastle United told to copy Leeds United and make loan-to-buy move for “absolutely brilliant” forward.