Newcastle are trying to sign the 19-year-old striker Hugo Ekitike from Reims but the French club intend to reject their opening proposal.
Reims value Ekitike at about €30m (£25m) and want a sell-on clause in any deal for the player, who has come through their ranks.
West Ham are among other clubs interested in Ekitike but Newcastle’s pursuit of the France Under-20 international is the most advanced.
Ekitike has scored eight goals and provided two assists in 17 Ligue 1 appearances this season in a team 14th in the table. He made his first-team debut in October 2020.
Newcastle, who have one win this season and were knocked out of the FA Cup by Cambridge United, last week signed Kieran Trippier from Atlético Madrid as they try to bolster their squad under their Saudi Arabian-led owners.
A striker is high on their agenda because of a calf injury to Callum Wilson, who in a best-case scenario will be out for several more weeks.
Chelsea are continuing attempts to bring back Emerson Palmieri from his loan at Lyon by offering about €4m in compensation. Palmieri is their preferred option to replace the injured Ben Chilwell but Lyon have rejected two previous approaches from the Premier League club.