How much Newcastle must pay to sign Kalvin Phillips on loan from Manchester City

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Financial fair play means Newcastle United need to tap into the loan market during the January transfer window, but even that will not be cheap.

The Magpies are looking to add multiple fresh faces to their squad for the second half of the season, having witnessed their campaign somewhat unravel in recent weeks.

Eddie Howe‘s side had a bleak December, crashing out of the Champions League and the Carabao Cup before suffering back-to-back defeats to Luton Town and Nottingham Forest.

There is a lot of negativity on Tyneside at the moment, but the mood can be boosted by some new additions.

One player who is being targeted is Kalvin Phillips. Newcastle want the midfielder on loan, and Manchester City are not going to stop him from making the move to St James’ Park.

It has been reported that Newcastle are confident they can agree a deal to sign Phillips on loan, but it sounds like even a loan deal will be relatively expensive.

Kalvin Phillips loan could cost Newcastle £7.5m

According to the Chronicle, Newcastle may have to pay a loan fee worth £7.5million to borrow Phillips from Manchester City for the rest of the season.

That is a lot of money just for a loan, but you have to imagine that the Toon officials are not being put off by the asking price. All the talk appears to be that things are going in the right direction, and surely a deal would already be off the table if Newcastle had no interest in paying that much money to bring Phillips to Tyneside.

Regardless of the fee, the 28-year-old would be a great signing for Howe. The Toon boss has wanted Phillips in the past, and it finally looks like he has the chance to get his man.

Newcastle need a defensive midfielder – that was evident against Nottingham Forest on Boxing Day – and Phillips looks like the best man for the job in January.

Whether or not Newcastle want him long-term remains to be seen, but signing Phillips for the rest of the season would certainly be a step in the right direction.

In the words of Kieran Trippier, he is a ‘fantastic’ player, and if he can get back to the level he was playing at for Leeds United then £7.5million will feel like pocket change.