Newcastle are readying a bid for Benfica striker Darwin Nunez and could be prepared to spend up to £50m on the Uruguayan, according to reports in Portugal.
Newcastle are desperate to sign a striker before the transfer window closes after losing Callum Wilson to injury.
Wilson is facing at least eight weeks on the sidelines after suffering a calf tear in the 1-1 draw with Manchester United last month.
Newcastle have been linked with a number of potential options to replace Wilson, including Liverpool’s Divock Origi, Burnley’s Chris Wood and Arsenal forward Pierre-Emerick Aubameyang.
The Magpies are also said to be interested in highly-rated Benfica striker Nunez, who has scored 18 goals in 23 appearances in all competitions this season.
According to Portuguese publication O Jogo, Newcastle are 'tightening' their grip on the 22-year-old.
The Premier League club were initially willing to spend £40m on Nunez but are now prepared to go as high as £50m in their pursuit of a new forward.
However, the report claims Benfica are also expecting Spanish giants Atletico Madrid to make a bid for the Uruguay international.
Benfica are waiting on Atletico to make an even bigger bid than Newcastle but are said to have placed an 'unrealistic' price-tag on the striker.
Newcastle have already made one major signing this month, with defender Kieran Trippier joining in a £12m move from Atletico.
Magpies boss Eddie Howe is keen to sign further reinforcements with the club under serious threat of relegation this season.
However, Howe has previously warned fans to remain realistic when it comes to transfers this month.
He told talkSPORT in December, Howe said: “January is notoriously a very difficult window to sign players in.
“The group of players we have here have been my main focus and continue to be my main focus.
“Getting the best out of every single one of those players is the key to us staying up.”
Topics: Newcastle United, Benfica, Premier League, Football, Primeira Liga, Transfers, Atletico Madrid
Rory O'Callaghan