Steve Bruce has agreed to join boyhood club Newcastle — as the Premier League's lowest-paid manager.

Geordie Bruce’s desperation to be in charge of the club he and his family have supported will see his basic pay pegged at £1million a year, when predecessor Rafa Benitez was getting a £6m annual wage.

The 58-year-old will, however, be able to boost his £20,000 per week wages by ensuring the Magpies avoid relegation back to the Championship.

MirrorFootball can reveal owner Mike Ashley has worked out an incentive-driven salary which will see Bruce collect an extra payment for every place Newcastle finish above the bottom three.

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Ending up in the middle of the table would see Bruce collecting a Benitez-style bonanza payment.

The Newcastle squad flew to China on Saturday to take part in the Premier League Asia Trophy pre-season tournament without their new man.

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He was with current club Sheffield Wednesday as they played Lincoln, with the Owls ramping up their compensation claim for losing Bruce and his trusted coaching duo Steve Agnew and Stephen Clemence.

After originally believing he would have to pay just £1m to snatch Bruce from the Championship club, Ashley has now been met with a demand for around £5m. He is not prepared to pay anywhere near that and is hoping Bruce will walk out, leaving both parties to haggle over the final terms.

(Image: Newcastle United via Getty)

Bruce wants to bring back Newcastle’s legendary star-finder Graham Carr as part of his St James’ Park revolution.

He knows Carr, who once signed an eight-year contract with the Tyneside club, still possesses the contacts, especially in Europe, to help him bring in the right players.

The super-spy, dad of TV funnyman Alan, discovered emerging players such as Yohan Cabaye, Papiss Cisse, Cheick Tiote and Mathieu Debuchy. It fitted owner Ashley’s philosophy of snapping up young players for bargain prices and later selling them on for a big profit.

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Working alongside managers Chris Hughton and Alan Pardew, Carr was handed the eight-year contract by a grateful Ashley in 2012. He left two years ago after Benitez took charge.

(Image: PA)

Carr is expected to be offered a senior scouting role by Bruce, having remained on good terms with the Ashley regime.

Bruce still harbours regrets about turning Newcastle’s overtures down in 2004, when they were searching for a successor to Bobby Robson. Having only just signed a new contract at Birmingham City, he decided to stay put.

Five years later, he surprised many in the Toon Army by agreeing to manage their hated rivals Sunderland — a decision which has led many Newcastle fans to decry his imminent appointment.

This time though, nothing will stop him moving in at St James’ Park – even the lowest managerial wages in the top flight.