Rafael Benitez wants £20m warchest to reinforce squad in January

Newcastle United manager Rafael Benitez is set to demand a transfer kitty of around £20m in order to strengthen his squad further during the second half of the season.

The Magpies made a quick start on their Premier League return and were are one stage occupy one of the European qualification spots.

However, their form has since dropped drastically, and they are currently on a six-match winless run which sees them positioned 15th in the standings.

According to The Mirror, Magpies boss Benitez is eyeing reinforcements across the pitch, and he is said to want a spending package of £20m this winter.

Atletico Madrid striker Kevin Gameiro and Porto goalkeeper Iker Casillas are among the high-profile names linked with the Tyneside outfit, although the uncertainty over the club's ownership could halt any plans.

Mike Ashley is currently in negotiations with Amanda Staveley over the potential sale of the club, but he is yet to receive a sum close to his £350m valuation.

Benitez's side host high-flying Leicester City in Saturday's late Premier League kick-off, and they have a stiff challenge on their hands to arrest their recent run of poor form.