Rafa Benitez has had a meeting with Lee Charnley ahead of next month's transfer window.
Newcastle United's manager met managing director Charnley yesterday for talks ahead of the January window.
Benitez wants to strengthen his squad for the second half of the Premier League season.
Speaking ahead of tomorrow's game against Arsenal at the Emirates Stadium, Benitez said: "I had yesterday a conversation with Lee.
"We were talking about what we want to do and the players maybe we want to bring in and others to go out. We've already started this discussion, and we'll see if we can progress in a few days."
Asked if he was happy with what he heard from Charnley, Benitez went on: "It's just to talk about ideas. We say we'd like to sign this player and you're quoted £40million – it makes it unrealistic. We have to move forward quickly."
Benitez doesn't yet have a precise transfer budget at the club, which was put up for sale in October by owner Mike Ashley.
"I don't know the details, but at least we were talking about that," said Benitez.
"If you're saying is everything fine and I'm happy, I don't know. We have to progress, and it's so obvious that we can improve things.
"We can sign one or two or you can sign five – it depends how many are available in the market. Obviously, I won't give any figures, because I don't have any."
Asked about the ongoing takeover talks, Benitez added: "Yesterday, talking with Lee, it was very clear we don't have news one way, so we have to progress in other ways.
"We have targets, and we can try for these targets."