The prospective owners of Newcastle United will pursue a high-profile manager with Massimiliano Allegri and Mauricio Pochettino identified as candidates.

Paperwork is being finalized for the sale of Newcastle from Mike Ashley to PCP Capital Partners, which is a Saudi-backed consortium. 

Rafael Benitez and Lucien Favre are also considered candidates, though they already have jobs.

To improve their chances of attracting a top-level manager, the owners will have to show their ambitions of recruiting big players.