Newcastle United have been given an instant £3million cash injection after agreeing to loan Lloyd Kelly to Juventus until the end of the season.

Sporting director Paul Mitchell told Serie A side Juve to make a serious offer for the star or leave the room after a series of January enquiries. But Cristiano Giuntoli returned with a financial agreement that satisfied Newcastle.

Not only will Newcastle land £3million now, which will help ease PSR worries, but an end of season transfer fee of £20million should land on club accounts this summer. The loan will see a series of milestones, based on appearances and squad inclusions, and will eventually trigger a permanent move meaning Kelly's long-term future is in Turin.

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After chats with Eddie Howe and Mitchell between Kelly and his representatives it was decided that this was an opportunity for the player that he could not turn down given the stature of the Serie A giants. In the end, Kelly made just seven starts for Newcastle in all competitions but could not get past Dan Burn on the left-side of the centre-backs.

Kelly only arrived from AFC Bournemouth in the summer, but his departure sees around £150,000 per week shaved off the club's wage bill. It will also save a total of around £7m a year with Newcastle giving Kelly top terms when he signed last June when the enhanced wages were deemed worth it given the nature of his arrival on a free transfer.

It is also understood that Kelly was left impressed by Juventus' efforts to sign him after they sent a representative to London to conclude the deal before whisking him to Turin via a private plane.