Newcastle United's prospective new owners have reportedly earmarked Massimiliano Allegri as their number one choice as manager should their takeover of the Magpies go through.

A Saudi Arabian consortium headed by Crown Prince Mohammad Bin Salman is understood to be making progress in their £340m talks to buy Newcastle from Mike Ashley, who put the club up for sale in October 2017.

Italian journalist Fabio Santini, as per Arena Napoli, reports that the new owners will look to bring in former AC Milan and Juventus boss Allegri once the takeover is complete, sacking incumbent manager Steve Bruce in the process.

Allegri has been out of work since leaving Juventus last year, having won five successive Serie A titles and four Coppas Italia in a row during a trophy-laden spell in Turin.

The report also claims that the 52-year-old, who has previously been linked with Manchester United, has already identified Paris Saint-Germain loanee Mauro Icardi as his ideal first signing at St James' Park too.

Icardi is currently on loan in the French capital but is expected to return to parent club Inter Milan, where he is deemed surplus to requirements under Antonio Conte.

Newcastle currently sit 13th in the Premier League table, eight points above the relegation zone.