Eddie Howe will reportedly be handed £75 million to improve his squad this summer, with the club's Saudi owners having to tighten their spending following qualification to the Champions League.
James Maddison is believed to be the top target, with the Magpies targeting midfield reinforcements ahead of their participation in Europe's elite club competition.
Having spent over £250 million in the three transfer windows since the Saudi Public Investment Fund's takeover of the club, they now have to consider Financial Fair Play restrictions, resulting in a lower than expected budget.
Newcastle will require midfield reinforcements, with their attacking and defensive units well set following a fourth placed finish in the Premier League this season. However, a reliance on four players in midfield, Sean Longstaff, Joelinton, Joe Willock and Bruno Guimaraes, is not thought to be sufficient amid the additional requirements of the Champions League'
As reported by the Daily Mail, Newcastle have shortlisted a number of midfielders, with Maddison at the top of the list following Leicester City's relegation. Maddison is believed to command a fee in the region of £60 million, with Tottenham also interested in the creative midfielder.
However, this would leave limited scope for additional signings, meaning that players may need to be sold if they are to target the other players linked to the club. Also named in reports is Brighton's Moises Caicedo, but his reported £80 million asking price would mean that he is out of Newcastle's reach unless players are sold.
This could lead to cheaper players being targeted instead, with Manchester United reportedly keen to offload Scott McTominay, while Chelsea's Conor Gallagher is also thought to be in consideration. Both players play a rotation role with their current clubs and could be tempted by Howe's Newcastle project and the chance for more first-team action.
There have also been reports linking Arsenal's Kieran Tierney with a move to the north-east, but the latest revelations suggest that such a move would only be considered once the midfield problems have been resolved.
Following confirmation of the Magpies' Champions League qualification last month, Howe revealed his thought process ahead of the summer, saying: “Now we’ve done it and I’m already thinking of what’s next. I think that is where I am in a different position, my mind immediately goes to next season. We don’t just want to enter the competition.”
Howe went on to outline the qualities required of new signings, saying that they must have “mentality togetherness spirit, the right mix of laughter and focus.”
He continued: “The biggest challenge for us is to maintain that and improve that while adding to the squad but it won’t be huge numbers.
“We have been really good in the three transfer windows. Now we have become a better team, there are fewer players who can make us better. We don’t have the ability to spend the money people think we have. It will be a small group but hopefully ones who can make a difference.”
