Newcastle manager Steve Bruce will reportedly be working with a smaller transfer budget than initially expected this summer.
It was understood that Bruce would have £35m at his disposal for signings, in addition to income generated through player sales.
However, according to Mail Sport, Newcastle will only have between £25-30m available due to the financial impact of COVID-19.
Matchday revenues, sponsorship deals and player valuations have all been affected by the ongoing pandemic, leaving the club in a difficult position.
This comes as a blow to Bruce who has made no secret of wanting to improve his squad, especially after their potential Saudi takeover fell through late on.
Central midfield and a new centre forward are reportedly the main transfer priorities.