Newcastle United will be limited to spending £50 million next January when the winter transfer window begins, says the Telegraph.
A Saudi-led consortium completed its takeover of the club on October 7.
The Magpies were expected to lavishly spend in order to compete with England's elite clubs, but they will have to make do with a smaller transfer budget.
They lost 3-2 at home to Tottenham on Sunday to remain in 19th position in the Premier League.
A picture shows the Newcastle United logo outside the club's stadium St James' Park in northeast England on October 8, 2021. (Photo by Oli SCARFF / AFP)
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