LEICESTER will only consider offers of at least £50million for sought-after midfielder James Maddison, according to reports.
The Magpies have already had a £40m bid rejected for the England international, who is considered one of Brendan Rodgers’ most valuable assets.
And now Eddie Howe is considering a follow-up offer in a bid to push the deal across the line.
However, according to The Times, Leicester will not entertain any offers lower than £50m.
As a result, Newcastle could now turn to alternative options.
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The Magpies have reportedly identified Burnley’s Maxwel Cornet as another top target.
The Clarets are claimed to be demanding £17.5m for the Ivory Coast international, but Newcastle would be willing to pay up to £25m.
Howe is desperate to bring a new winger or midfielder to St James’ Park before the Premier League season kicks off next week.
Speaking after Newcastle’s pre-season win over Atalanta on Friday, he said: “Never say never, but as the days tick by it looks more and more unlikely.
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“We’re desperate to try and improve the group with the right player.
“I probably wouldn’t have hoped to be in that situation (no attacking signing), but that’s the transfer window.
“The most important thing is we get the right players, not the speed with which we get those players.
“There is a slight frustration, but not aimed at anyone from our side, in terms of a frustration that we haven’t done business.
“There is an understanding of the window and the mechanics of what goes into making transfers.
“There is frustration because you want to build your team and you want to get the adhesive nature of that team working quickly.”
Newcastle have been relatively busy throughout the transfer window so far.
The Magpies have introduced three new additions to the first team this summer.
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The club also made Matt Targett’s loan move permanent for a fee of £15m.