Alan Shearer says Newcastle United owner Mike Ashley must break the bank this summer.
Shearer has been speaking in the wake of the Championship club's promotion to the Premier League.
The club legend believes manager Rafa Benitez, set for end-of-season talks with Ashley, needs EIGHT new players.
And a "worried" Shearer, writing in The Sun, feels they will cost a "minimum" of £150million.
Asked about the contrasting fortunes of Newcastle and relegated Sunderland, Shearer said: "Yes, one is on the up and one on the way down but Newcastle are also at a crossroads – and I’m not convinced Mike Ashley will take the right turn.
"What evidence is there that he is going to change now?
"He clearly acceded to some of Rafa Benitez’s demands last summer, which is why he stayed on to get Newcastle back up.
"But it is a different ball game now.
"As soon as promotion was confirmed and Rafa refused to commit his future to Tyneside, I had to worry.
"Quite simply, he needs about eight new players just to turn Newcastle into a mid-table Premier League team.
"Benitez won’t want to go into next season knowing he has a squad only good enough for a relegation scrap. He won’t have it.
"There is a huge opportunity here for Newcastle to establish themselves again as a top-flight force.
"But he now needs, at the minimum, a £150million investment in new players.
"And I am not convinced that will happen."
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