'Our understanding' - Chris Waugh shares how much is left in Newcastle’s summer budget

Chris Waugh, of The Athletic, has claimed the amount of money that is left in Newcastle United’s transfer budget this summer.

The Magpies have already spent £59.4 million this summer on the arrivals of Nick Pope, Matt Target, and Sven Botman. But, according to The Mirror, are keeping tabs on former forward and current Brentford talisman Ivan Toney this summer, as they look to solve their goalscoring problems, having found the back of the net just 44 times last season.

Speaking in an interview with Adam Pearson, Waugh revealed how much money Newcastle should have left to spend this summer, saying:

”Our understanding at the start of the summer was, before any money recouped from player sales – Newcastle haven’t really brought any money in, most of the players that have gone out have been on loan – before that, Newcastle had somewhere in the region of £70m-£90m to spend. We think they’ve spent between sort of half to a little more than half of that. In theory, they maybe have something between £30m-£40m still to spend.”

With just over a month until the summer transfer window slams shut, though, Newcastle may have to act quickly if they want to bring anyone else in, especially if they want to do it before the beginning of the Premier League season at the start of August.

For a club with the financial resources of Newcastle, they haven’t actually spent an incredible amount this summer. Of course, that could quickly change, with time still left in the transfer window. But, in truth, things haven’t exactly gone to plan for the Magpies so far this summer.

Their pursuit of Hugo Ekitike ended in failure, with the forward opting for a move to Paris Saint-Germain instead. Meanwhile, according to Luke Edwards of The Telegraph,