Sheffield Wednesday: Newcastle-bound Steve Bruce 'to be lowest paid manager in Premier League' - reports

Tabloid reports claim the 58-year-old will net a basic salary of £1million to manage his boyhood favourites – six times less than Rafa Benitez got to do the same job.

Geordie Bruce is said to be willing to accept those terms to manage the club he and his family supports.

The reports claim Bruce has agreed to an incentive-driven salary which will see him collect extra payments for every place Newcastle finish above the bottom three.

Bruce took charge of Sheffield Wednesday at Lincoln on Saturday while Newcastle flew to China to take part in the Premier League Asia Trophy – with both clubs locked in a battle over compensation.

Newcastle had hoped to snatch Bruce for £1m, according to reports, but the Owls are said to be holding out for a figure in the region of £5m.

Bruce is thought to harbour regrets about turning down Newcastle’s overtures in 2004 shortly after signing a new contract at Birmingham City – but it is understood he is not prepared to let this opportunity pass him by even if it means being the lowest paid manager in the top flight.