Newcastle boss Rafa Benitez admits he's running out of time to complete his summer market plans.

He was promised all the cash the club could generate when he pledged to stay on as manager in May in a meeting with Toon owner Mike Ashley.

But Benitez's budget has been slashed and the Spaniard (left) said: “He knows what he told me and what I was thinking. We know where we are and what we want.

“We always have a lot of players to move out before we can move more in. It is too early to say if the work behind the scenes is good. We will see.

“We have to manage a situation that is not ideal, but that is what we have."