Newcastle United manager Rafa Benitez has admitted the transfer market is “crazy” and believes the prices that are being played for players is the reason they are struggling to make signings.

The St. James’ Park outfit have only managed to add Christian Atsu and Florian Lejeune to the squad so far, with the Spaniard becoming frustrated.

Benitez had hoped the Magpies would have brought in more recruits before the club returned to pre-season, however admitted he has to wait and see what happens.

“The top sides have a lot of money and the others are spending too,” he was quoted as saying by the Chronicle Live at an event.

“It’s not easy for a lot of teams because the market is a little bit crazy. We have to try to do our best.

“We know where we are – that is not ideal because everybody wants to see a lot of players signing already – but we have to keep working and see what we can do.”

Newcastle are back in the Premier League having won the Championship division on the final match of the season, however they have struggled to add to their squad.

Benitez’s main priority for the upcoming campaign will be to ensure the Magpies retain their status in the top-flight, however without being able to add big names to the side it could be a tough year.

Club owner Mike Ashley has allegedly told the former Liverpool manager that he promises to give him all the financial backing he can from the revenue generated from their promotion and the money made from player sales.

However, Benitez believes the current transfer market is making it difficult for the Tyneside outfit, with Premier League clubs seemingly splashing out on players with astronomical sums.

Everton have been the most active this summer, making six signings all for significant sums of money, whilst Manchester United have just spent a reported £75 million on Romelu Lukaku.

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