Newcastle United chairman Chris Mort has warned manager Kevin Keegan they won't have a massive budget for the summer market.

Keegan discussed numbers between £40-50 million after Monday's defeat to Chelsea, but Mort said in response: "We don't want to do a Leeds. It doesn't make sense.

"This club had £100million-worth of debt which has now been cleared and it would be foolish to stretch it beyond its limits.

"I thought Kevin's comments were quite sensible.

"I'm not sure what people's expectations are but I don't think most Newcastle fans would be greatly surprised by what he had to say.

"There are those who are naturally optimistic but it does no harm to come out with some realism and say that if we get fifth we will have done well. He's right.

"I wasn't taken aback by Kevin's comments. He says what he feels. We have just come out of a relegation battle so you can't have people surprised when the manager says we aren't going to get into the Champions League.

"This is a long-term building project and we are very happy with Kevin.

"He's a very enthusiastic character who has got the team playing good football.

"We were disappointed to lose to Chelsea but he's got the team playing well."