Speaking exclusively to Football Insider, the ex-Leeds United and England defender suggested the new owners will reassess their January plans if the team continue to struggle.
The Telegraph report (October 16) Newcastle United will only spend £50million in January.
Under financial fair play rules, they would be allowed to spend another £140million during the winter window.
Football Insider‘s financial guru Kieran Maguire has revealed how Newcastle could theoretically spend “£1billion” on transfers in the current FFP cycle.
“You probably need eight new starting players if you’re looking to get into the top-half consistently and then push on from there, that could happen” Mills told Football Insider correspondent Connor Whitley.
“Just out-and-out quality, that’s what Newcastle United need. They don’t have it at the moment and that’s what they need.
“This is the problem that you’ve got, you’re going to have to bring in players that will be there for six months or 18 months, maximum before they get shipped out.
“£50million, does that include wages? It’s a tricky one.
“If they’re in trouble they’ll spend more. Simple as that.
“That will be re-evaluated. Maybe they’re keeping their powder dry so other teams keep their powder dry and don’t hike up their prices too much. That might be one of the theories behind that.”
Newcastle’s only major addition over the summer was the £25million signing of Joe Willock from Arsenal.
The goalscoring midfielder spent the second half of last season on loan at St. James’ Park and has failed to reproduce that form this term.
This article was originally posted here