Newcastle United manager Rafael Benitez believes that he will need a warchest of £20m in order to improve his squad before the second half of the season, according to a report.

The club are currently 15th in the table, five points above the relegation zone and on a winless run of six games after their loss to Chelsea at the weekend.

According to The Mirror, manager Benitez is eyeing reinforcements all over the pitch and expects his desired spree to cost in the region of £20m.

The Magpies have been credited with an interest in Atletico Madrid forward Kevin Gameiro and Porto goalkeeper Iker Casillas in recent days, although transfer plans are complicated by uncertainty over the club's ownership.

Benitez will next have the chance to arrest his side's poor run of form when they welcome Leicester City this weekend.