Newcastle United's new owners need to invest 'significant' funds into improving the club's academy, according to The Athletic's Chris Waugh.

The journalist believes the Magpies' youth setup has failed to produce enough first team talent throughout the Mike Ashley era. 

What's the latest news involving Newcastle?

As you're likely well aware, there was a recent takeover on Tyneside. 

Ashley sold the club to a consortium backed by Saudi Arabia's public investment fund, which technically means Newcastle are the richest club in world football. 

There will be plenty of anticipation over how exactly that translates into action in the transfer market, but after Ashley's era of austerity, it appears other aspects of the club require similar financial attention. 

What has Chris Waugh said about Newcastle's academy?

The Athletic's Waugh has suggested Newcastle's academy needs a serious influx of cash. 

Speaking to GIVEMESPORT, he said the youth system on Tyneside requires 'significant investment', having been 'overlooked' by Ashley during his time as Newcastle owner. 

Waugh told GMS: "The academy needs significant investment. It's been overlooked throughout the entire Mike Ashley era. It's not producing the players that it should. And so that is somewhere where they need to spend money."

What first-team players have come from Newcastle's academy?

For all the negativity surrounding Newcastle's academy in terms of resources, it has produced some decent players in recent years. 

Paul Dummett, Matty Longstaff and Sean Longstaff have all played first-team football under Steve Bruce and are graduates of the club's youth system. 

Goalkeeper Freddie Woodman is also an academy product and started the first four Premier League fixtures of the campaign.

Elsewhere, Southampton striker Adam Armstrong came through the Toon ranks, while Rangers captain James Tavernier was part of the youth setup briefly after being signed from Leeds.

Considering Newcastle produced these talents during a period in which the academy lacked adequate funds, it's exciting to think what the club's youth department could achieve with the right backing. 

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Should the academy be a priority for Newcastle's new owners?

There are certainly more pressing matters for Newcastle's new owners - chief among those being the fact the club are firmly amid a relegation battle. They're likely already working on a list of reinforcements for the January transfer window. 

But ultimately, the sooner they can improve the infrastructure and resources at academy level, the better.

Supplementing the first-team squad with young talent will not only save Newcastle money in the long run, but it could also be crucial to maintaining the club's identity.

The new owners' fortunes will allow them to sign huge names for massive fees. They may have plenty of talent, but they will lack a natural connection with the Newcastle community and fanbase.

Young and exciting local-born talent could play a massive role in bridging that gap.