Newcastle to hand Benitez £50 million transfer kitty to convince him to stay

Newcastle are ready to hand manager Rafael Benitez a £50m transfer budget this summer, in a bid to keep the Spaniard at the club.

Benitez’s future at the club is uncertain with his contract set to expire at the end of the season, and the former Liverpool and Real Madrid boss is seeking assurances over the club’s ambition before extending his stay.

According to the Daily Mail owner Mike Ashley is set to convince Benitez to stay in the North East with a transfer kitty of £50m, plus any extra revenue generated from player sales.

Benitez has been given very little to spend in just over three years at St James Park, but the club are now in a more financially stable position having posted a profit of £18.6m for the year ending June 2018.

Newcastle broke their long-standing transfer record with a £21m deal for Paraguayan attacker Miguel Almiron in the January transfer window, and reports have emerged that Ashley is willing to sanction moves to break that record again this summer.

The retail entrepreneur is believed to want the club to target younger players who hold resale value, though Benitez has spoken out at the need to find a balance between youth and experience.

Benitez is believed to be keen on turning Salomon Rondon’s loan spell into a permanent deal, however, Ashley has reservations at spending a significant fee on a player who turns 30 later this year.