Newcastle United to sign former Liverpool playmaker?

Newcastle United have identified former Liverpool star Philippe Coutinho as one of their prime targets ahead of the January transfer window.

The Magpies were taken over by a Saudi-based consortium earlier last month, but that has not improved the results on the pitch.

The club are already facing the threat of relegation with six points separating them from safety. There could be a winter spending spree.

According to The Sun, Coutinho is one of the first names on the Magpies radar with his vast experience of playing in the Premier League.

Coutinho's future at Barcelona has been a constant speculation topic. The hierarchy are reportedly ready to cash in on his services this winter.

With just 20 months left on his contract, the Catalan giants are willing to sanction his sale in order to lower their excessive wage bill.

The Spanish heavyweights need to recoup another €300m in wages and amortisation fees before they can spend freely in the transfer market.

La Liga have imposed a salary cap of just €98m for the current season. The club can spend only €25m on players during the winter transfer window.