The £16m Newcastle United paid Real Madrid for England striker Micheal Owen in 2005 remains a club transfer record. However, this could potentially be eclipsed as Leicester City's Islam Slimani is wanted by Rafa Bentiez to bolster the Magpie's Premier League bid for survival.
Reported by Mirror Football, the Foxes value the Algerian international at around £20m, although £29m was spent on Slimani's capture from Sporting Lisbon in 2016. Nevertheless, a deal could be completed as he has struggled to establish himself as a first-team regular since his arrival, and Newcastle will need to exceed their current club record transfer to secure the signing of the hard-working forward.
Premier League rivals West Ham are interested in the Magpie duo of Serbian striker Aleksandar Mitrovic and talented midfielder Jonjo Shelvey, but the Hammers may need to wait until the latter part of the transfer window to complete a deal.
(You may also be interested in Shelvey lined up for £12m move to West Ham after Kenedy's arrival)
Benitez is known to be a reluctant seller especially to a bottom-half rival, but he might be persuaded if he can finally land a quality striker and a gifted midfielder in the next week as their replacements.
The Spaniard accepts that with the current issue with the club's ownership, available funds for transfers is stringent so he needs to be selective in which players are sold and those that will be brought in to St James' Park.
Bargains that will add essential quality and experience to his squad seems to be the parameters Benitez is working within.