Newcastle United have had an offer accepted for Hugo Ekitike of Reims.
United are also working on a loan deal to bring in Matt Targett from Aston Villa - a player who has been on the club's radar for a number of seasons.
The Magpies are set to meet the asking price of the French club after spending the month in negotiations with president Jean-Pierre Caillot.
The deal is expected to be around €30million for the initial fee and €10million in further bonuses.
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Reims supremo Caillot had said: "Newcastle positioned themselves for a deal and we talked, but their proposal did not suit us as we don't necessarily want to sell him and that is why we set to the asking price (€40m) quite high.
"They did make us an offer worth €35m (£29m) in total, but it was with many bonuses and some of which were almost impossible to achieve - such as winning the Champions League."
After signing Chris Wood, Kieran Trippier, Bruno Guimarães and Dan Burn, nobody can accuse Newcastle of not going big in the January window this year.
