Newcastle’s owners are threatening to back out of the £47 million deal agreement.

Luke Edwards of The Telegraph has provided a sobering update on Newcastle’s January transfer plans today.

According to his report, the owners of Newcastle currently “do not think a move for Kalvin Phillips makes financial sense,” which suggests that we’re prepared to end negotiations in response to Man City’s present demands.

The club is reportedly unwilling to commit to a mandatory purchase clause of £40 million at the conclusion of the season, making the loan-to-buy agreement worth a total of £47 million. It is said that the £7 million loan price is considered “too high” for five months of play.

Although it appears that City’s conditions must be met before the deadline ends, the deal is still alive. The 28-year-old needs to move away, so there is “some hope” that the Champions’ position will shift to allow for that, but there’s still a chance that Premier League competitors will intervene while we take a step back because Man City is “confident” that others will accomodate their demands.

We desperately need midfield additions with reports that Joelinton’s injury may be more serious than initially thought and players like Joe Willock and Elliot Anderson still having trouble recovering from minor setbacks. Phillips could fill a huge void, but I can see why we wouldn’t want to pay a hefty loan fee and make a long-term agreement;  especially in the midst of FFP constraints.