£423m worry hands Newcastle United transfer opportunity amid Premier League interest

As Premier League clubs navigate ever-tightening PSR obligations, over in France it is historic Ligue 1 outfit Lyon who find themselves in a whole world of financial trouble. The seven-time champions have been handed a provisional relegation - and a transfer ban - after racking up debts of €505m [£423m].

Lyon will avoid demotion to the second tier if they drastically improve their situation by the end of the season. As such, attention turns to which players could realistically be sold to bring in much-needed funds during the January transfer window - and one previous transfer target of Newcastle United will likely be available at a cut-price.

Rayan Cherki, 21, is an attacking midfielder, who can play on either wing, and has previously been tracked by the Magpies. His pace and eye for goal - coupled with his age and unlimited potential - suggest he would be a perfect fit for Eddie Howe. The youngster was first touted as a possible Newcastle target back in 2023 but has since attracted a host of European suitors with his impressive Lyon performances.

READ MORE: Paul Dummett lifts lid on Newcastle United exit after turning down 'big offers'

READ MORE: Anthony Gordon's half-time England message that hints at Newcastle United attitude

Borussia Dortmund and Fulham were both linked with a move for Cherki in January, while Paris Saint-Germain were pushing for a deal in the summer market. Since then, Chelsea, Liverpool, Tottenham, Barcelona - and Newcastle - have all been linked with one of Europe's hottest properties.

The north east outfit, in particular, are constantly looking at expanding their arsenal of young, promising talents. The capture of Georgian teen sensation Vakhtang Salia proves that stance as sporting director Paul Mitchell looks to continue Dan Ashworth's legacy of attracting up and coming stars to Tyneside.

Cherki would likely be different - walking straight into any first-team should he depart in the coming months. If that eventuality materialises, Newcastle would be foolish not to make a play for one of the best young talents in European football at present.

"We lost €15m from his potential sale [to Paris Saint-Germain] last summer, but now his value is way higher," Lyon president John Textor said of Cherki last week. "He should stay in January, but it's up to Rayan, as is always the case in football.

Lyon is also classed as home to former Premier League stars such as Alexandre Lacazette, Wilfried Zaha, Said Benrahma and Ainsley Maitland-Niles. Meanwhile, Malick Fofana and Maxence Caqueret are expected to be popular targets as Lyon battle their financial situation.

"We have an excess of superb players," Textor added. "The coach has almost impossible decisions to make. I hate rumours about which players to sell, it all depends on the opportunities, but the certainty is the abundance of players.

"We have 29 players in the first team. Ideally, we want 23 or 24. There are six players too many. Some have not left and we wanted to recruit to be stronger in the league."

Newcastle are already drawing up plans for January and will no doubt, along with their Premier League rivals, be keeping a close eye on any Lyon-shaped opportunities that crop up in the near future.