Newcastle United owner Mike Ashley has given the club a £33m 'relegation loan' to help them cope with the effects of dropping into the Championship.

Documents filed by Companies House in December show that the funds were invested through the businessman's St James Holdings Ltd operation, reports The Chronicle.

The loan is believed to have been tabled to recoup the financial losses Newcastle endured when they were relegated from the Premier League at the end of last season, including the downturn in television revenue.

Although the capital was made available shortly before the transfer window reopened, the report suggests that it will not form part of manager Rafael Benitez's transfer kitty.

Ashley, who handed the club similar loans when they were relegated in 2009, is said to still be owed £129m from Newcastle's last stint in the Championship.

The documents also reveal that investments of £141m were made through St James Holdings during the financial year ending June 30, 2015, while the club's operating profit reached £19m that season.