Newcastle United boss Rafa Benitez could be handed a staggering £500m to spend by the club's potential new owners.

The Daily Express says financier Amanda Staveley is lining up a £300m bid for the Magpies which is some £100 million short of Ashley's valuation of the club but talks are set to continue in a bid to agree a deal.

Staveley controls around £30 billion of capital through her PCP Capital Partners.

And Benitez will be given substantial funds on new players as much as £500 million in the next two transfer windows to turn Newcastle into title contenders.