Simon Jordan is adamant Newcastle United will need to spend more than £60m if they are to avoid battling for Premier League survival next season. The Magpies currently sit nine points clear of the relegation zone following a nine-match unbeaten league run, although Eddie Howe's side did suffer defeats to Chelsea and Everton just before the international break.
Newcastle's priority remains preserving their top-flight status this season, with a push for a remarkable top-half finish looking unlikely. United spent in excess of £90m in January to help rejuvenate Howe's side, with marquee signing Bruno Guimaraes joining experienced Premier League performers such as Dan Burn and Chris Wood.
The Magpies boss is reportedly set to be handed a summer budget in the region of £60m to bring in three to four players, according to the Telegraph. It is a figure which has provoked debate among sections of the club's fanbase as well as commentators, given Amanda Staveley's ambition for the club to challenge for silverware this decade.
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Jordan believes Newcastle's impressive recent run of form should not disguise from the limitations of their current squad. The former Crystal Palace owner believes the Magpies owners will have to spend 'a lot more' if they are to avoid another finish towards 'the bottom of the division'.
Jordan told talkSPORT: "If they want to build a side that doesn't operate in the bottom of the division, they're going to have to spend a lot more than £60m this summer. While they are in a rich vein of form recently, with this group of players I think they will still finish in the bottom six or seven of the division.
"If they want to build a gap between that and where they want to get to, where we're led to believe they want to get to, they're going to have to spend money. Now, if they're going to do it in bitesized chunks and a pragmatic, sensible evolutionary way rather than just revolution, then there's something to be said about it.
"If they're going to build in the summer and spend £60m, they're going to supplement a spend of £100m in the January transfer window. They spent £30-£40m in the summer window, so they will have spent £200m over three transfer windows.
"Some clubs might see that as quite a significant spend. If you're looking at teams you're going to go past, if you look at Crystal Palace, the first teams you start chasing down are the ones in your immediate vicinity.
"We're just talking about the reasons why they might be operating in this fashion. If they want to operate in a different fashion, it's the drippings of their nose economically."
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