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Steve Bruce to be handed '£200m transfer war-chest' as Newcastle's new Saudi owners look to launch audacious plan to build Geordies into Champions League contenders

Newcastle United manager Steve Bruce is set to be handed £200million to spend on players and club improvements as their new Saudi owners looks to relaunch the club as Champions League contenders.

Head of the Saudi sovereign wealth fund Yasir Al-Rumayyan is poised to become the public face of the club as part of the £300million takeover of Newcastle from unpopular retail tycoon Mike Ashley.

Detailed financial plans have been submitted to the Premier League which the new chiefs hope to get approval for, which reportedly includes the huge initial £200m figure that will be injected into the club to improve the squad and revamping the club facilities, according to The Mirror.