Newcastle United will receive a cash payment of up to £50million from the Premier League by mid-July, according to the Chronicle.
The regional newspaper claim manager Rafael Benitez will be handed a “large portion” of the sum to be used on transfers during the summer window.
The Chronicle report that Newcastle and their Premier League rivals are given handouts from the Premier League at different points of the season, with the initial payout of between £40million and £50million followed by smaller monthly payments, TV money in January and then a merit-based sum at the end of the campaign.
OPINION
Newcastle are in major need of reinforcements this summer, particularly in the centre-forward, wide attacking midfield and full-back positions. Benitez has made it abundantly clear that the sooner they can get to business the better, but the timing of the Premier League £50million payment means it is unlikely owner Mike Ashley will be sanctioning any major signings before mid-July. Unless, that is, Newcastle complete the sales of the likes of Aleksander Mitrovoic and Matz Sels, which should bring in major funds for Benitez to invest. Ashley promised Benitez “every penny the club generates” to spend on transfers, but the controversial Sports Direct tycoon has showed in the past that he will not spend beyond the club’s means, or push through deals quickly to pave the way for reinvestment in the playing squad. Ashley wants to extract every possible pound from each sale, and, until that cash is in the bank, will not hand it to the manager. It promises to be another long summer on Tyneside.
