Newcastle United boss Rafa Benitez has been informed of his summer transfer budget.

The Mirror says with still no firm buyers for the club, owner Mike Ashley will once again hold the purse strings when it comes to this summer's budget.

Benitez will be handed up to £80m to strengthen a squad which diced with relegation for most of the season.

Whether the Spaniard believes that is enough to avoid another season of struggle will determine whether he agrees to sign a new contract.

His deal runs out in 12 months and there is no shortage of interest in the former Liverpool boss – with West Ham, Leicester and Everton all monitoring his situation.

But Ashley wants him to stay and hopes the chance to break the club's transfer record – which dates back to 2005 and the £16.8m handed to Real Madrid for Michael Owen – will help persuade him to remain.