Kenny ‘shocked’ by Newcastle development and can’t believe ‘new owners’ plan

A measly transfer budget of £50million this January is not enough to save Newcastle United from relegation.

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.”

This article was originally posted here

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