THIS weekend’s financial revelations could have far-reaching effects at St James’ Park this summer, but Jose Enrique is desperately hoping he is not sacrificed in order to swell Newcastle’s transfer kitty.

Magpies owner Mike Ashley changed the prevailing mood on Tyneside at a stroke on Sunday night when he revealed the scale of the club’s losses was sufficient to rule out any “new capital outlay”

this summer.

If manager Chris Hughton wants to spend money on signing players, he will almost certainly have to raise it himself by selling on existing members of the squad.

That has placed huge question marks over the future of the small number of players who would command a significant transfer fee if they were to leave Tyneside when the transfer window reopens next month.

The likes of Steven Taylor, Jonas Gutierrez and Andy Carroll suddenly find themselves in an uncertain position, while Leeds United are preparing a £2m bid for Shola Ameobi as they attempt to recruit a replacement for the Everton-bound Jermaine Beckford.

Enrique could well command renewed interest from Spain after a number of La Liga clubs stepped up their monitoring of his progress in the final months of last season.

The full-back cost £6.5m when he joined Newcastle from Villarreal in August 2007, but after three years in the North-East, is keen to remain with the Magpies for at least another season.

“I still believe I can get better, and I intend to do that with Newcastle,” said Enrique, who started 33 of United’s 46 matches as they romped to the Championship title.

“I have seen a few things about other clubs being interested in me, but they shouldn’t bother.

“For me, I only want to play for Newcastle. I’m happy here and I want to stay. If other teams want to buy me they have to speak to Newcastle, but I don’t want to go.

“The only way I will go is if Newcastle need the money. I don’t know what the situation is, but I don’t think so.

“If they want to sell me that’s not my problem, but I want to stay here and I have told everyone here. Next year will be my fourth season at Newcastle and I have enjoyed my time here. It is a happy club now.”

Nevertheless, it is hard to imagine Hughton being too happy if he is unable to recruit anyone before the transfer window closes at the end of August.

The Magpies manager has expressed a desire to retain the core of the squad that won promotion, but there is a marked difference between making a handful of changes here and there and starting next season with the exact squad that ended the last campaign.

It is hard to remember a single promoted side that survived without spending a penny – Sunderland fans will have particularly bitter memories of what happened to their club when it tried to avoid relegation on the cheap under Mick McCarthy – and even though Enrique feels the current squad is good enough to survive in the Premier League, the gulf between England’s top two divisions remains vast.

“Of course it will be more difficult for us in the Premier League, and of course we are going to lose more games than we have this season, but I believe we have a good team and we can do well enough,”

said the Spaniard.

“I certainly think I am a better player now than I was when I played that first game in the Championship, the experience will benefit me in the long term.

“I feel I’ve played well and got stronger. It is different to the Premier League, but I think it has given me more confidence in English football.

It has been more physical and direct but I’ve enjoyed it.”

While Enrique was an integral part of Newcastle’s promotion, Ameobi performed more of a fringe role as he battled to overcome a succession of injuries.

Leeds boss Simon Grayson has identified the 28-year-old as a viable replacement for Beckford and is ready to launch a formal approach in the hope of tying up a deal ahead of the start of pre-season training in July.