According to the Chronicle, Newcastle are set to receive a Premier League payment of ‘up to £50m‘ over the coming days – a much needed cash boost which could finally give Rafa Benitez some money to spend in the transfer market.
With just over three weeks left to do business and several players still needed to be signed, the pressure is on the board to deliver the signings Benitez expects – with a new striker yet to arrive despite our desperate need for one (or two!).
As highlighted in Chris Waugh’s latest piece, Newcastle have been waiting for this payment from the Premier League – which is normally received around mid-July – and once it arrives, it’s hoped that Benitez’s spending power will increase.
Here’s a snippet from the Chronicle’s piece:
‘Newcastle United will receive up to £50million from the Premier League in mid-July – and Rafa Benitez will hope that boosts his spending power in the transfer window.
‘Benitez remains in discussions with the managing director Lee Charnley about potentially extending his contract, which has a year left to run, and the Spaniard’s summer transfer budget is a key factor in those talks.
‘Having earned more than £123m across the 2017/18 campaign, however, Newcastle will receive the first portion of next season’s TV money in mid-July – and it will be between £40m-£50m.
‘It does not appear coincidental that Newcastle’s net spend of £46m last season is almost the exact equivalent of the first lump-sum payment they will have received after returning to the Premier League last July.
‘Ashley is unwilling to put any additional funds into the club – he has £144m worth of interest-free loans with United at the moment – so instead Benitez was handed the first large Premier League TV payment.’
It’s not how we should be forced to do business, but it’s worth noting that we’d only signed two players by this time last summer (Atsu and Lejeune), so history suggests Ashley doesn’t release much money until this lump sum is received from the Premier League.
Frustrating I know, but it may mean Rafa is finally given some money to spend over the next few weeks – and could explain why Ashley has spent a mere £4m up until this point; not that it justifies it at all.
Here’s hoping that a big portion of this payment is added to Rafa’s transfer pot – along with money from the sales of Mbemba, Merino, Hayden and Mitrovic (which could come to over £40m itself in theory), or is that me being unrealistic?
Either way, this could be the boost our frustrating window desperately needs and the moment that kick-starts our summmr spending.
I’m not banking on it as this is Mike Ashley after all, but let’s hope that our transfer business starts to pick up once this payment is received.
With just three signings confirmed, just £4m spent and no new striker signed so far, it really does need to!