Newcastle are now the richest football club in the world, backed by owners worth a reported £320billion
Newcastle are set to shake things up in the Premier League when the transfer window opens and reports indicate they could make a move to damage both Chelsea and Liverpool's prospects.
The Toon Army are still celebrating Mike Ashley's sale of the club last week after the Saudi-backed Public Investment Fund (PIF) completed their takeover.
Part-owners Amanda Staveley and Mehrdad Ghodoussi introduced themselves to Newcastle's squad on Monday.
Big changes will need to be made to Newcastle's squad though with Steve Bruce's side currently battling relegation.
They're yet to win in the Premier League this season through the opening seven games with just three points on the board.
But all eyes will be on the January transfer market to see what the new owners do and how much they spend.
Now, according to Calciomercato, Newcastle are ready to splash out roughly €100million on their first target.
The Italian outlet state Federico Chiesa has emerged as someone at the top of their wishlist.
Both Chelsea and Liverpool have been credited with an interest in the Italy international in recent months.
But it appears Newcastle's new owners are seemingly ready to rock the boat in January with a record bid for Chiesa.
Juventus are desperate to keep hold of Chiesa though and will reportedly do everything to avoid a sale in January.