Newcastle United’s ambitious new owners are ready to hand Steve Bruce a massive compensation package as they look to kick off their era of ownership with a new boss at the helm
Steve Bruce is reportedly line to receive a lucrative £8million pay-off in compensation from Newcastle United after the club’s new owners reportedly decided to appoint a new manager.
The Public Investment Fund (PIF) completed their £305million takeover of the North East outfit on October 7, some 18 months after lodging their first bid to buy the club.
It brought an end to the 14-year reign of billionaire Mike Ashley, who put the club up for sale in 2017 following intense pressure from the club’s fanbase to sell up.
Club director Amanda Staveley, who played a key role in helping the consortium complete the deal, said there would be a full-scale review of the club’s current state of play before making a decision.
Mirror Football understands that Bruce will not be given the chance to see out his 1,000th game in management with the Magpies and will be sacked in the next few days.
It is understood non-executive chairman Yasir Al-Rumayyan is hoping to install a new boss to kick off the PIF era in time for the home clash against Tottenham.
And that will mean Bruce would have to be relieved of his duties as first-team manager, with The Telegraph reporting the 60-year-old is entitled to a pay-off of around £8m.
Bruce has been at the helm at St James’ Park since July 2019 when he succeeded Rafa Benitez in the dugout, signing a three-year contract with his hometown club.
But a poor run of form, combined with a lack of investment in the team, has seen the Magpies stagnate under his management — and they have only taken 37 points from their last 38 games.
The report claims his assistant Graeme Jones will be put installed as interim manager for their next game against Spurs, while they complete the search for a new manager to lead the club into a new era.
It was originally predicted that the ambitious owners would seek to reinstall Benitez as Bruce’s successor when they devised their plans to buy the club.
But the Spaniard took the vacant post at Everton this summer and that has left the club’s senior management with a decision to make over their long-term successor for Bruce.
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The early candidates linked with the post have largely been managers from other Premier League clubs, from Brighton boss Graham Potter to Leicester City coach Brendan Rodgers.
More high-profile names such as Antonio Conte and Zinedine Zidane have been linked the job, as well as Steven Gerrard, who guided Rangers to an unbeaten campaign in winning the Scottish Premiership last season.
As part of their managerial restructuring, the PIF are also hoping to bring in an experienced sporting director with Ralf Rangnick at the top of their list of targets.
The German has worked successfully with RB Leipzig and Red Bull Salzburg before heading to Russian side Lokomotiv Moscow in 2020.
But he could welcome the chance to work in the Premier League after being targeted by Manchester United for a similar role when Jose Mourinho was in charge in 2019.
Newcastle are currently 19th in the Premier League and without a win from their first seven games of the season, with a flurry of new signings expected to arrive in January.
Philippe Coutinho, Mauro Icardi and James Tarkowskli are some of the names linked with a move to St James’ Park with the new owners pledging “heavy investment” to reshape the squad.
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