After the Magpies earned promotion to the Premier League from the Championship last season, Ashley claimed that Benitez would have funds to recruit the players that he wants.
In a recent interview with Sky Sports News, however, the Sports Direct businessman acknowledged that he cannot compete financially with some of England's elite, including Manchester City.
Speaking at his press conference before the weekend's trip to Huddersfield Town, the Spaniard said: "Obviously we have a lot of players we have to move out if we want to move [players] in. It depends on how many we can move in one direction.
"We have to wait and see if this work behind the scenes is good. If we can move players out it will be easier to bring players in. My focus now is to win on Sunday, to get three points and little by little to see where we are."