Leicester City have had a £12m offer for Charlie Austin turned down.

Sky Sports report that QPR have knocked back the offer as they are holding out for at least £15m.

Newcastle fans stand by bewildered as the local press claim that NUFC are still interested in the striker as their main target and yet United are still to make an offer…

With Newcastle already having now had three days of pre season training, zero signings is a worry for all supporters, no matter what emails are sent out in Steve McClaren’s name to try and justify the inaction.

The squad fly out to America in only a week’s time and when they return there will be just over two weeks to prepare for the Premier League season kick-off against Southampton.

There are growing fears that Mike Ashley will continue to refuse to allow investment on the credible players who are needed desperately by Newcastle.

Recent days have seen West Ham invest £12m in Dimitri Payet who Newcastle were also claimed to be after, Stoke are reported by the BBC to have agreed a £12m deal with Inter Milan’s Xherdan Shaqiri, whilst Swansea of course paid that same figure for Wilfried Bony before more than doubling their money in January.

Newcastle’s first opponents of the season, Southampton, spent £10m or more on five different players last summer and this is what United are up against in this modern era.

Cut price buys on a hope and a prayer for the likes of Emmanuel Riviere will only take us one way. Whilst journalists close to Newcastle United have claimed £12m was spent on Remy Cabella, the reports from France have consistently said it was mroe like £8m.

In the last year we have been told a number of times by the club that we can’t compete with the likes of Swansea, Southampton and West Ham.

Can we now add the names of Stoke and Leicester?

The the next question being just who is beneath Newcastle in the transfer market now?