Mike Ashley 'will hand Rafa Benitez £50m' transfer kitty at Newcastle

Mike Ashley is prepared to hand Rafa Benitez a £50million transfer kitty, according to a report.

Friday, 18th May 2018, 10:12 am
Updated Friday, 18th May 2018, 11:06 am
Mike Ashley

Benitez's representatives are in talks with managing director Lee Charnley over his future and a summer transfer budget.

Owner Ashley wants Benitez – who has a year deal on his deal – to sign a new deal at St James's Park.

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However, Benitez, on West Ham United's managerial shortlist, will only commit to Newcastle if he is satisfied that the club's ambitions match his own.

Benitez wants a defined transfer budget and to be able to spend it as he sees fit.

The Daily Mail report that that Ashley is prepared to back his manager with "at least £50million". That figure, it's reported, could increase to £70million with player sales.

Mike Ashley

However, Benitez and the club are yet to reach an agreement, and United's manager is yet to sit down with Ashley for face-to-face talks.

And the Gazette understands that the early figures discussed in talks fall short of £50million.

Ashley last week pledged to back Benitez with "every penny generated by the club", meaning Benitez's transfer budget will have to come out of Newcastle's profits.

Rafa Benitez