The Newcastle manager’s vacancy was said to be of interest to Porto boss Sergio Conceicao, but the huge release clause in his current contract, as reported by the Chronicle, is sure to see Lee Charnley look elsewhere.
The report claims the Porto boss only signed an extension to his deal in Portugal in March, which would see any interested club having to pay a whopping £18 million to secure his services.

Penny-pinching Newcastle always seemed reluctant to shell out a sum like that for players that Rafa Benitez had targeted, so the likelihood of them paying it for a manager would appear very slim.

They will surely look for someone with little, or no, release clause, or someone out of work, where no compensation would be required at all.
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Newcastle will likely be looking for cheaper options
It is the Mike Ashley way, and he will not pay out huge sums to bring quality additions to the club, whether they are players or managers.

That is the reason why Newcastle will never achieve anything under this regime, as the ambition to improve is simply not there from above.
You get what you pay for in football, and what we pay for is mediocre, second-best personnel in the main, and that encapsulates Newcastle as a club nowadays: mediocre, and second-best!