The arrival of Chris Wood and Kieran Trippier wasn't enough to see Newcastle take all three points against fellow strugglers Watford.
Now they've been warned they mustn't overspend with relegation in mind.
The Dail Mail that Trippier was given £100,000-a-week contract, while Wood is set to take home £80,000 per week.
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Football finance expert Dr. Dan Plumley claims the Magpies could lose £60million in revenue overnight if they're relegated to the Championship.
“You have to balance wages with the risk of relegation," he told Football Insider.
“Relegation would mean a £60m reduction in revenue overnight. Even if you finish bottom, the TV payment is £100m for the season.
“Your parachute payment for that first season after relegation is about £40m.
“Yes, they have got money to spend and are okay under FFP. They have got an ownership structure which could spend whatever they want at any time.
“But the broadcasting payment drops off a cliff after relegation. If you don’t get back up quickly, you lose your parachute payments and it gets even worse.
“The aim in the short term is to stay in the Premier League but you have to balance that with what happens if you are relegated.
“That’s where the wage structure comes into play. You can’t throw everything at it because of that risk.”
