Newcastle United will reportedly back Steve Bruce with funds of up to £90m to spend on new signings this summer after the club announced his appointment as manager on Wednesday.

Bruce, who previously managed rivals Sunderland, has penned a three-year deal with The Magpies, who parted ways with Rafael Benitez earlier this summer.

The latter is thought to have left St James' Park due to frustrations over the club's transfer policy and level of investment into the squad.

However, according to Sky Sports News reporter Rob Dorsett, the Premier League club plans to heavily back Bruce during the remainder of this window.

"I understand that there is a £50m transfer budget on top of money they have already generated," he told The Transfer Show.

"There is also £30m they received for Ayoze Perez and £11m left over from the previous January transfer window.

"Add all that up together and that comes to a budget of £91m for Newcastle to spend in the summer transfer window."

Newcastle, who are yet to sign any players this summer, have lost attacking duo Perez and Joselu in this window, with midfielder Sean Longstaff also likely to leave.

The club has entered negotiations with Hoffenheim for the transfer of Brazilian striker Joelinton, who is thought to be valued at £36m.