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Report: Newcastle United to have between £90-£100m to spend

Republic of Ireland's James McCarthy as Italy's Stefano Sturaro sustains an injury (REUTERS)
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Newcastle United are set to invest heavily in the summer transfer window.

According to a report in the Chronicle, Newcastle United will have between £90 and £100 million to spend in the summer transfer window.

Rafael Benitez confirmed that he would be staying on at St. James’ Park yesterday, following discussions with Mike Ashley.

Benitez wanted a sizeable amount of transfer funds to spend in the summer, and was appeased when told he would be able to invest £100 million into his playing squad in the coming months.

Newcastle's manager Rafael Benitez celebrates winning the league with his medal

Newcastle now have lavish plans to improve their team to ensure that they are ready to compete back in the top tier.

The Magpies realise that their current squad will need upgrading, if they are to meet Benitez’s ambitious targets for the future.

Newcastle manager Rafael Benitez

The Spanish boss does not want to return to the Premier League just to survive, but to thrive.

Newcastle have already been linked with a range of targets ahead of the summer transfer window, with Everton midfielder James McCarthy thought to be near the top of Benitez’s wishlist (Daily Mail).

Republic of Ireland's James McCarthy in action with Georgia's Levan Mchedlidze