Newcastle United look set to receive a payment just shy of £5m ahead of this summer’s transfer window.
As revealed by The Chronicle, the Premier League have saved £83m in parachute payments after Norwich and Watford sealed an immediate return to the top flight – a total which will now be divided between the remaining clubs.
This sum could yet increase if recently relegated Bournemouth come straight back up via the play-offs, with the Cherries set to be up against Brentford, Swansea and Barnsley for that final place in the Premier League.
Mark Douglas reports that we’ll be working on a ‘limited’ budget this summer, however this bonus windfall is expected to be added to Bruce’s transfer kitty.
The Chronicle insist that COVID-19 has had a real impact on finances at the club, also stating that Mike Ashley is reluctant to spend big while he continues to pursue a potential Saudi takeover.
That said, Douglas does claim that decision makers at the club have acknowledged that reinforcements ‘will be required to maintain Premier League status’ next season.