Newcastle Chronicle reporter Mark Douglas has revealed that the club are only likely to spend in January if manager Rafa Benitez signs a new deal, or if the Magpies are in danger of being relegated.
Benitez is understood to have been frustrated by the lack of transfer activity over the summer, but it appears that funds will only be made available in the next window if the Spaniard commits his future to the club.
Douglas also stated that January spending will be influenced by Newcastle's position in the Premier League table, with relegation a real concern for owner Mike Ashley. "I think it’ll depend on where they are in the Premier League," the journalist told the Chronicle during a Q and A.
"There’s clearly money there to spend - we know Ashley withheld funds because the contract wasn’t signed on the grounds that there’s too much uncertainty about his future to allow Benitez to spend – but Benitez wasn’t allowed to do it in the summer.
The journalist continued: "I wouldn’t expect massive funds to suddenly be freed to him unless it looks like he’ll sign the contract in front of him. But if they’re in the bottom three, there’ll be more to spend because Ashley is frightened of what might happen if the club go down.
"In short: I think they’ll be active in January, but it’ll be more 'boxing smart' in the window."
Newcastle have had a difficult start to the season, securing only one point from their opening four Premier League fixtures. The Magpies face Arsenal at St James' Park next and will hope that they are able to get their first victory in front of their home supporters.