Kevin Phillips expects Andy Carroll to take a big pay cut at Newcastle United after it was revealed that the club want to extend the striker’s contract.

The 2000 European Golden Shoe winner, speaking exclusively to Football Insider correspondent Dylan Childs, insisted the 31-year-old can still be an asset to the club and has shown that in glimpses this season.

The Athletic revealed that the representatives of Carroll, Javier Manquillo and Matty Longstaff have been contacted by managing director Lee Charnley over contract extensions.

Discussions are underway despite the prospective £300million takeover of the club still awaiting approval from the Premier League.

All three are out of contract on 30 June with Longstaff having been offered a £30,000-a-week deal at Serie A side Udinese.

Phillips admitted it is a gamble handing Carroll a new deal given his injury record.

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“There is a player there that loves the football club,” he told Football Insider.

“The contract will not be near what he was on and he is a useful tool when you can keep him fit.

“He has showed in glimpses this season that he is a handful but you always run the risk of losing him for a period through injury. It is a slight gamble but one that I would be willing to take because he loves the football club.

“He does not mean to get injured and off the bench he is a useful player.”

While the English striker has not scored this season he has been affective on numerous occasions from the bench.

Carroll has made 14 appearances this season and contributed four assists.

In other Newcastle United news, Paul Robinson has told Football Insider club should learn from ‘phenomenal’ Leeds.