Newcastle ready to splash cash to capture Ghana star Andre Ayew

Mike Ashley has admitted he made a mistake not spending more money in the transfer market as head coach John Carver declared the first team squad is too small for a club with their resources.

Carver claimed Ashley and Lee Charnley have both acknowledged to him that they should have brought in more players last summer when Alan Pardew was still the manager.

That is not something Charnley has ever admitted publicly, let alone Ashley, but with just 13 fit outfield player ahead of Saturday’s game against Arsenal, Carver said they have been honest with him behind the scenes.

Newcastle United will announce record profits this month, but have endured another depressingly mediocre season on the pitch.

The Magpies had been knocked out of all cup competitions by the end of the first week in January and are currently 11th in the Premier League, one place lower than where they finished last term.

But Carver, much like Pardew before him ahead of every transfer window, has tried to reassure supporters that things will change when new players arrive.

Asked whether Ashley and managing director Lee Charnley had acknowledged they had made a mistake not signing more players last summer, Carver replied: “Yes”

He added: “The squad needs to be stronger and they have acknowledged that to me, Lee and the board have acknowledged that to me. That's why I am saying to you now they are going to invest, because they know they have to.

“I am telling you now, because I have been part of it in the last few weeks, there are things in place. That's from the top, and the fact that I am sitting here now telling you this, is a fact.

“The fact that I'm sitting here talking about this acknowledgement tells me that they have realised. They've got to do something about it, and they know that.”

The revelation Carver has been involved in the recruitment process suggests he could still be given the head coach role beyond the end of the season, even though he has won only two of his 11 games in charge.

“I'm excited by the fact that I've been part of the [recruitment] process,” said Carver. “That's the first thing. I've seen the players, and they're good players.”

One of Newcastle’s main targets is Marseille forward Andre Ayew, while they are also considering a bid to sign Sevilla striker Kevin Gameiro.