Newcastle United boss Rafael Benitez has hinted that club owner Mike Ashley needs to invest in January transfers in order to make the Magpies a more attractive prospect for potential buyers.

Ashley has had the club up for sale since October and remains in talks with financier Amanda Staveley over a deal for the St James' Park side, although it is believed that Ashley's plans to have a sale arranged by Christmas could prove unlikely.

"At any football club in the world, the value depends on the first team. What you are doing on the pitch," Benitez told reporters.

"You can put everything around and that's fine, but if you are in the Premier League and doing well it is easier. If you are in the Premier League and things are not going well it is more difficult and if you are in the Championship it has less value.

"That is so simple. For any club in the world, it depends on the performance of the first team. And then you have to be sure that the first team is doing well. It is very simple. You have to be sure that your team is strong enough to stay in the Premier League."

Newcastle have won just once in their last 11 matches and currently sit in 16th place in the Premier League table.