Rafa Benitez wants to see a change in Newcastle United's transfer policy if he is to sign a new contract.

The Spaniard has met with owner Mike Ashley and told him his demands about changing the transfer policy, according to the Guardian.

Benitez wants to be able to sign players over 25 and be flexible with the wage bill, which would include loanee Salomon Rondon and Manchester United veteran Juan Mata.

The report claims the former Liverpool manager will be handed £50m plus any cash raised from player sales next season to spend on players.

Benitez's Toon contract will expire next month.