Newcastle latest news: 'Ideal' - Mike Ashley has done PIF a huge favour

Amanda Staveley played a key role in the takeover of Newcastle United

Newcastle United are able to go on a huge spending spree when the transfer window reopens thanks to previous owner Mike Ashley's lack of spending, according to The Athletic journalist Chris Waugh.

Ashley's 14-year reign came to an end after a takeover worth £305million was completed last month.

What's the latest news involving Newcastle's spending?

Joe Willock's permanent transfer from Arsenal proved to be the only St James' Park signing of the summer transfer window.

As a result, Burnley, Wolverhampton Wanderers, Southampton, Watford and Everton were the only Premier League clubs to spend less than the £25million Newcastle splashed out on Willock before the deadline passed at the end of August.

But the Magpies are under new ownership as a consortium led by the Saudi Arabia-based Public Investment Fund and also comprising PCP Capital Partners and RB Sports & Media has been at the helm since last month.

The takeover resulted in Newcastle becoming the richest club in world football, with the Public Investment Fund's fortune worth 10 times more than Manchester City's backers and 50 times greater than Paris Saint-Germain owner Nasser Al-Khelaifi.

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What has Chris Waugh said about the situation?

Waugh has revealed that Ashley's lack of financial backing during recent transfer windows means Newcastle are able to splash the cash.

A lack of signings means the Magpies could spend big without having the fear of breaking Financial Fair Play guidelines.

Waugh told GIVEMESPORT: "The irony of the Mike Ashley era is that, although he basically held the club back and really frustrated supporters, they were the ideal club for ambitious owners to take over because there is such room to be able to grow in FFP terms.

"They aren't in debt and haven't got onerous contracts from previous regimes."

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Which potential signings have Newcastle been linked with?

Burnley central defender James Tarkowski is expected to become one of the first signings of the new era.

Tarkowski's Burnley contract, which is worth £50,000-per-week, is due to expire at the end of the season.

Manchester United quartet Anthony Martial, Jesse Lingard, Donny van de Beek and Eric Bailly have also been linked with making the move to Tyneside.

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Which club did Newcastle sign Callum Wilson from?

It has been reported that the Magpies are plotting a January bid for Southampton captain James Ward-Prowse, while Watford winger Ismaila Sarr is also on their radar ahead of the transfer window reopening.

According to German newspaper Bild, via the Sun, Newcastle have been in regular contact with the agent of Chelsea striker Timo Werner.

Read More - January Transfer Window 2022: When does it open, when does it close and which players are going to move?

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