Newcastle United want to raise a minimum of £60million in transfer sales to help their Financial Fair Play situation, sources have told netsport.uk

The Tyneside club have had their transfer budget restricted due to their heavy spending in recent windows and could even be forced into selling one of their big stars late in the January window.

Each Premier League club is allowed to lose a maximum of £105million over a three-year period according to the Premier League’s Profit and Sustainability Rules.

Everton were handed a 10-point deduction this season for overspending and breaching the rules and the Toffees and Nottingham Forest face further punishment after being charged with breaching the regulations in their 2022-23 accounts.

Newcastle’s 2022-23 financial results have put them close to the overspending limit after recording a loss after tax of £73million.

The Magpies also recorded a £70million loss in the 2021-22 financial year.

The club’s losses can mostly be attributed to their increased transfer investment under new ownership, with the North East club spending £131million in the summer transfer window.

In contrast, they made just £38million in sales over the summer.

Club CEO Darren Eales admitted that Newcastle may now be forced to sell star players to raise funds.

“You have seen from the accounts the level of investment in the squad. We always have to be mindful of the PSR stuff and making sure we are always going to be compliant long term,” said Eales.

Sources have told Football Insider that Newcastle will look to raise a minimum of £60million in sales over January and the summer window.