Newcastle boss Eddie Howe and his recruitment team have learned about their summer transfer budget.
The Magpies are set to play in the Champions League after finishing third in the Premier League.
Per The Mail, Newcastle will only have a summer window budget of 75 million to sign new players.
Such a budget can be extended if they are able to sell players, which would push it towards 100 million.
Leicester City's James Maddison is a key target, as is Manchester United's Scott McTominay.
The Magpies also want to sign Conor Gallagher from Chelsea, but all three may not be possible with a limited budget.