Newcastle Make Money Director of Academy

Newcastle United have appointed the former Walsall manager Richard Money as their new academy director. Money will oversee the development of the club's young players as owner Mike Ashley attempts to develop his own talent. The 52-year-old, who resigned from his job at the Bescot Stadium in April, has previously worked with young players at Aston Villa and Nottingham Forest, and was Coventry's academy manager before Newcastle made their move.

"This a fantastic opportunity for me, a really big challenge," said the former Liverpool and Fulham defender. "I have got a lot of experience of working with young players, so this is a job I am well qualified to do."

Newcastle have invested heavily in youth since Ashley's takeover last summer with Swindon Town's Ben Tozer, Hungarian youth international Tamas Kadar, French teenager Wesley Ngo Baheng and Italian Fabio Zamblera, all 18, and 17-year-old Swedish goalkeeper Ole Soderberg arriving since the turn of the year. The club are also understood to be interested in the 15-year-old Plymouth Argyle forward Aaron Spear.

Meanwhile, Aaron Lennon may swap Tottenham Hotspur for Newcastle. The sometime England winger, 21, enjoys the rare distinction of featuring on both the shortlists of transfer targets drawn up, separately, by Kevin Keegan, Newcastle's manager and Dennis Wise, the club's executive director (football).