Newcastle's January transfer options.

The ousting of Mike Ashley sparked jubilant scenes at St James' Park and there is a high level of excitement about how far Newcastle can go under the new Saudi owners. However, it has been reported, Newcastle will have a limited budget this coming January transfer window. This seems prudent, with Newcastle's current relegation table position, and without a manager after Steve Bruce was sacked this week. A new manager looks to be hired soon though, with current football bets of Paulo Fonseca, Franks Lampard and Lucien Favre being the current top three favourites. Let's have a look at who a new manager might be looking to bring in as their first signings.

Luis Diaz

The Portuguese press are claiming Newcastle are ready to meet Porto striker Luis Diaz's £67.5m release clause this January. Diaz, 24, who normally plays as a left-winger but can also play more forward, has scored seven goals in eleven games so far this season for Porto.

Newcastle do need more goals, although a high price transfer is no guarantee of success. Newcastle's previous high price stiker Joelinton has failed to chalk up double digits in near 80 games for Newcastle. We think the Luiz Diaz rumour is more the club and/or agent looking to cash in. Doubtful.

Dominic Calvert-Lewin

A more proficient goal scorer can be found in Calvert-Lewin, who has emerged as another possible target for Newcastle. Last season, the Everton man scored 21 goals in all competitions and 16 in the Premier League. According to The Telegraph, Newcastle are keen to sign Calvert-Lewin as the club's recruitment team regard the striker highly. However, Newcastle will have to battle it out several clubs, as Calvert-Lewin is a target for Arsenal, Manchester City and Manchester United, amongst others. But with Newcastle's new found wealth, perhaps they can compete?

James Tarkowski

Newcastle's defence has been one of the big factors in Newcastle’s early season struggles and it might be wise to improve this area first. Burnley may also be forced to sell Tarkowski as his contract runs out next summer and they could lose him on a free.

Former England goalkeeper Paul Robinson has claimed Burnley have offered a new deal to Tarkowski, but him not signing it is clear that he wants a move away. Burnley will look to maximise the transfer fee but that shouldn't be a problem with the new Saudi owners of the Magpies. We rate this transfer deal as likely.

Jesse Lingard

Lingard is another player out of contract next summer, so offers Newcastle a transfer target at what one would think would be a reasonable price. Sky Sports reported the midfielder's agents attended Newcastle's game against Tottenham. Lingard has made just four Premier League appearances since returning from a loan spell at West Ham, last season. With the World Cup in Qatar coming up at the end of next year, Lingard has stated that he needs regular first team football to have a chance of securing a place in the England squad. This could be a move that suits all parties.