Former Newcastle United ace Chris Waddle says the new owners first signing must "light the place up".

Waddle believes the new owners need to make a statement signing, similar to when Newcastle bought Kevin Keegan in 1982 or Keegan himself signing Alan Shearer for a world-record transfer fee in 1996.

"For me, the first signing has to be a massive signing. You're talking a Keegan or a Shearer. It's got to set the place alight," Waddle said.

"It's going to cost a fortune. Manchester City had a five-year plan when they did this and they've managed that very well. Newcastle should be copying a plan like that to succeed.

"I think Steve Bruce has done a good job - that may be unpopular but I think he has. But City made a real statement when this happened to them and got a high-profile manager in Pep Guardiola, who is the best.

"If Bruce did lose his job, which I think he will unfortunately, I think they've got to make a big statement with who they appoint because that's what they need if they're going to take this club to the next level."