Chris Waddle urges new Newcastle United owners to 'set the place alight' with 'massive signing'

After an 18 month saga and a protracted legal battle, the Saudi-funded PCP consortium were finally able to seal a deal on Thursday that brings to an end nearly a decade-and-a-half of Mike Ashley’s ownership on Tyneside.

Discussions over what the boardroom shift could mean for the club’s transfer policy and the future of manager Steve Bruce are already ongoing, and Waddle is of the opinion that while the Magpies should look to emulate Manchester City’s patient approach to spending their new riches, they should also consider making a marquee acquisition in the near future.

Speaking to BBC Sport, he said: "For me, the first signing has to be a massive signing. You're talking a Keegan or a Shearer. It's got to set the place alight.

"It's going to cost a fortune. Manchester City had a five-year plan when they did this and they've managed that very well. Newcastle should be copying a plan like that to succeed.

"I think Steve Bruce has done a good job - that may be unpopular but I think he has. But City made a real statement when this happened to them and got a high-profile manager in Pep Guardiola, who is the best.

"If Bruce did lose his job, which I think he will unfortunately, I think they've got to make a big statement with who they appoint because that's what they need if they're going to take this club to the next level."