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 By PA Sport

Newcastle United to give Rafa Benitez 'every last penny' for Premier League

Newcastle United won the Championship this season.

Newcastle boss Rafa Benitez is set to be handed a significant summer transfer budget for the club's return to the Premier League after productive talks with owner Mike Ashley.

The two men, along with managing director Lee Charnley, met on Tuesday to discuss the way forward after the club's promotion back to the top flight as Championship title winners, amid speculation Benitez could walk away from the club less than 12 months after signing a three-year contract.

In a statement released on Wednesday evening, Ashley said: "I've confirmed to Rafa and Lee that they can have every last penny that the club generates through promotion, player sales and other means in order to build for next season.''

That income will include the club's share of the latest broadcast deal and, while there will be no repeat of last summer's selling spree, which saw the Magpies rake in a total of £68 million for Moussa Sissoko, Georginio Wijnaldum and Andros Townsend, any proceeds from player sales will be reinvested. Benitez could have in excess of £75m at his disposal.

"I'm pleased with how the meeting went and the positive approach we are all taking together to build on what we have started this season," Benitez said. "There will be challenges ahead, of course -- the summer will not be easy -- but the hard work has been going on for some time and we can now continue positively with the development of the squad ahead of the start of the new season.

"I wish fans an enjoyable summer.''

Benitez invested heavily last summer to build a squad capable of winning promotion, but he was disappointed not to be able to allowed add to it in January.

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