By Russell Edge

7th May, 2018 | 2:40pm

Report: Benitez handed summer transfer budget as Newcastle pick up £80m windfall

Newcastle United manager Rafael Benitez will be handed a transfer budget less than the £80million profit that Mike Ashley is set to pick up after the club’s season in the Premier League, according to a report.

The Telegraph claim on their website that the Magpies are said to be picking up anywhere between £60million and £80million after their first campaign back in the top flight but only part of that windfall will make up the club’s transfer kitty for the summer, a decision which has Benitez scratching his head.

It is said that the Spaniard wants assurances over the club’s plans for spending, and why they are failing to live up to their previous ambitions of pushing up the table.

Football Insider verdict

For as long as Mike Ashley is at charge at St James’ Park there is little chance of Benitez ever seeing the money that he wants backing with, with or without a hefty windfall coming from the club’s success this season. The Sports Direct supremo is known for running the Magpies ship on a shoestring budget and that does not look set to change any time soon. It is such a shame for the Toon Army because they know Benitez has the ambitions that they have but without the financial backing, they will never reach the heights they want. More worryingly, with just a year left on his contract, the Spaniard could see his patience wear thin and eventually move on to bigger and better things, where an owner is willing to use his knowledge and contacts to bring in top talents from across the world. This summer could well be crucial, and at the moment, it is not going the way Newcastle fans want.

In other Newcastle United transfer news, one man has failed to rule out an exit from the club this summer.

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