The would-be Newcastle United owners will set their sights on a massively improved shirt sponsorship deal if they complete their takeover, Football Insider understands.

The current deal with Chinese betting company Fun88, which is worth around £6.5million-a-year, is due to expire this summer.

A Newcastle source has told Football Insider one of the top priorities of the club’s prospective Saudi-led owners is bringing the main shirt sponsorship deal in line with Europe’s elite clubs.

They will not expect to land a £40million-a-year deal, which is the minimum bar set for the six wealthiest Premier League clubs Liverpool, Man United, Man City, Chelsea, Arsenal and Tottenham.

But Newcastle would hope to secure a deal well in excess of £20m-a-year even if the club is not participating in European competition.

A £30m-a-year deal is eventually regarded as feasible for a club with a huge fanbase and a significant history.

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One strong possibility is a tie-up with a company with strong likes to Saudi Arabia, in a similar way to Man City’s stadium and shirt sponsor deals with Etihad Airways.

During the Mike Ashley era, Newcastle’s commercial revenues have fallen dramatically in comparison to the Premier League elite.

According to the club’s newly-published accounts, this stream accounted for just £26m of the club’s total £176m turnover last season.

Newcastle posted a glowing set of financial results that left them with the third highest pre-tax profit for last season, behind only Tottenham and Liverpool.

The north-east giants recorded a pre-tax loss of £41m for 2018-19 even though turnover dropped £2m to £176m.

In other Newcastle United news, the door has opened for the club to sign amazing goal machine after Sky reveal.