Nottingham Forest boss Billy Davies has warned Newcastle they will have to spend heavily should they make an immediate return to the Premier League.
Davies, whose side lost 2-0 at St James' Park on Monday evening as the Magpies edged closer to promotion, said: "Newcastle are already sitting here with a budget that exceeds X amount of pounds with a squad depth that carries huge experience. They are more equipped than any other team in this division.
"But they will still need to spend and, as a greedy manager, I think at least £40million for the first window and £20million for the second is what is required."
He added: "This animal is ready-made for it, but of course it will need a new injection of players.
"The club's infrastructure cries out for Premier League football, whereas other clubs that are trying to get there - who deserve wonderful credit by the way - are still working on their infrastructure."