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Newcastle boss Rafa Benitez to receive £100m transfer kitty to revamp Premier League squad

The Spaniard recently admitted he was ‘waiting for answers’ after talks with the club’s hierarchy as fans continue to sweat over what the future holds.

But today United have released figures which show they are now in a financial situation to back Benitez in the transfer market this summer and beyond.

The accounts show Benitez had a budget of £120m to spend over the last two seasons – £70m from incoming revenue, with a further £52m from outgoing players.

In that period, £111m has been spent on transfer and loan fees, agents costs and other expenses.

Newcastle now have an income of £178.8m – and this means after the wage bill of £100m and operating costs of around £25m have been subtracted, there is £50m to be reinvested per season for the next two campaigns.

To add, any cash generated from players sales will be added to the budget.

Speaking after the releasing of the accounts, Lee Charnley said: “Our accounts are pretty simple in terms of the main numbers.

“We’ve got turnover less than our wage bill and other operating costs, broadly speaking gives us what we have to spend in a year.

It’s not difficult to do the maths, that’s what we have to spend. In addition to that you then have the funds generated from player sales.“We will also look to ring-fence a specific additional budget to spend on young development players that have the potential to be part of the first team in the future.”

Benitez has been quizzed over his future in recent weeks as the clock ticks down regarding his current deal.

“I am in contact with the club and I am waiting for answers to questions I have proposed to continue,” he told Radio Marca this week.

“My family is in England, here I am content but a series of conditions have to be met.

Rafa Benitez has admitted he wants to stay at Newcastle (Pic: Getty)

“To stay, we need to sit down, talk well about the economic possibilities of the club and what direction we’re going in.“We have to mix experience and youth, that is the balance we have to achieve.

“English teams have a lot of economic potential and attract the best players.

“That’s good for big Premier League teams but it’s a drawback for teams like ours.”

Newcastle look to have secured their Premier League safety for another season.

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