So says ex-Premier League goalkeeper Paddy Kenny, speaking exclusively to Football Insider about the Magpies’ post-takeover ambitions.
The Telegraph reported on 16 October that the new regime at St James’ Park will sanction a £50m war chest for new signings in the mid-season window.
Newcastle, who gave Steve Bruce the boot on 20 October, have failed to win any of their opening nine matches Premier League this season.
They spent £25m in the summer as Joe Willock became their only permanent addition of the window.
Finance expert Kieran Maguire told this site on 8 October that Newcastle could theoretically spend a further £205m in January and comply with FFP.
Kenny argues that £50m is not enough to pull them out of the relegation quagmire.
“It’s not enough to stop them going down, £50m,” he told Football Insider correspondent Adam Williams.
“A top-quality player these days is worth at least £50m. They need to sign more than one top-quality player this January if they want to stay up.
“With the new owners, I’m shocked that they aren’t giving them a budget that will let them finish mid-table this season so they can go again in the summer.
“If they’re not going to splash the cash with the new owners, I find that very strange. I definitely think they are going to need more than that.”