Newcastle: The budget allocated to transfers this summer has been unveiled and formalised

Newcastle United boss Eddie Howe has been informed that he will have a transfer budget of £75m this summer, with James Maddison being the club’s top midfield target.

The Magpies are also considering Manchester United’s Scott McTominay, Moises Caicedo from Brighton and Chelsea’s Conor Gallagher for the same position. Newcastle is looking to strengthen other areas as well including left-back, centre-back and versatile forward positions.

Leicester City want £60m for Maddison while Brighton demand £80m for Caicedo; however, sources suggest that Newcastle may not stretch their budget beyond what they can afford under Financial Fair Play regulations.

The 26-year-old Maddison had previously expressed his preference for moving to London but could be attracted by working with Howe at Newcastle after the team secured Champions League qualification.

Meanwhile, McTominay may leave Old Trafford this summer if Manchester United lowers its asking price currently in excess of £30m. Gallagher remains on Newcastle’s radar despite Chelsea wanting £50m for him.

Other players on Newcastle’s list include Khepren Thuram of Nice, PSV’s Xavi Simons and Tyler Adams of Leeds. However, the focus appears to be on signing Maddison first before exploring other options further down the line.

The relegated clubs’ situations are also being monitored closely by Newcastle although Harvey Barnes and Youri Tielemans from Leicester are reportedly not targets.