Newcastle are preparing to make an offer for Eintracht Frankfurt winger Jesper Lindstrom, joining AC Milan in the race for his signature.
According to BILD, both clubs have expressed a concrete interest in the Denmark international and are in the process of preparing their respective offers.
However, the Bundesliga outfit are demanding a fee of €30-40m for the winger.
However, with substantial financial resources, the Magpies have already agreed to sign Sandro Tanoli for £52m and are now focused on securing the services of the 23-year-old ace, who has an impressive record of 14 goals and 13 assists in 77 appearances across all competitions.
Newcastle, backed by the Saudi PIF, had a successful season under Eddie Howe and secured qualification for the Champions League which could be an attractive reason for the attacker to make a Premier League.