Newcastle United will not have any issue with paying Kalvin Phillips and other summer targets big wages, claims transfer insider Pete O'Rourke.

The Leeds midfielder is one player who is currently being linked with a move to St James' Park, and O'Rourke believes the Tyneside club's new-found wealth has handed them a huge advantage heading into the upcoming window.

What is the latest news involving Phillips?

The Daily Mail reported at the start of the month that Phillips is ready to extend his stay at Elland Road amid interest from Newcastle, Aston Villa and West Ham.

Villa, in particular, have been heavily linked with the 26-year-old in recent weeks, with The Telegraph claiming that the Midlands outfit are prepared to pay £60m for his signature.

Phillips has missed a lot of action this season due to injury, but he remains a wanted man after impressing at the Euros last year.

"Kalvin Phillips and Declan Rice are two phenomenal players," former England manager Fabio Capello told the MailOnline last July. "Very different from Steven Gerrard and Frank Lampard, who I coached: they are very functional in this England. They are two great midfielders who fight on every action."

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What has O'Rourke said about Phillips and Newcastle?

O'Rourke is convinced Newcastle will have no problem with offering Phillips a huge contract and blowing Leeds and other clubs out of the water.

Speaking to GIVEMESPORT, the football journalist said: "They wouldn't have any issue paying those types of fees to incoming summer transfer targets this transfer window, and I think Leeds would struggle to match those terms.

"Newcastle, it might give them an advantage over their rivals that they can blow them out of the water with their personal terms."

Who else are Newcastle targeting?

As well as their midfield, Newcastle look set to strengthen their attack when the transfer window reopens.

According to Spanish outlet SPORT, the Magpies want to sign Philippe Coutinho, who is currently on loan at Aston Villa, and are willing to pay Barcelona €40m (£33.7m) for his services.

Meanwhile, The Telegraph claims that the Premier League outfit could make a move for former striker Ivan Toney after identifying the Brentford star as an alternative to Darwin Nunez.

If they can get him, Coutinho, Phillips and maybe a centre-back, you would expect Eddie Howe to be pleased with Newcastle's transfer business - anything on top of that would probably be a bonus. Ultimately, supporters of the Tyneside club could be in for a really exciting summer.