Newcastle have had a bid of around £50m for Joao Pedro rejected by Brighton.
The Magpies firmed up their long-standing interest in the player with an offer this week.
Chelsea are also interested in the Brazilian forward.
Newcastle’s offer fell short of Brighton’s valuation, but there is a high chance the player could move on this summer.
Pedro is a close friend of Bruno Guimares – a fellow Brazilian in the North East – though Sky Sports News has been told Pedro would only consider a move to a club where he was first-choice striker, which could be a stumbling block to any deal.
Newcastle are buoyed by an influx of Champions League money, and keen to strengthen their squad before their return to Europe’s elite competition. It is likely to be a summer of flux at St James’ Park, with a number of Eddie Howe’s strikers yet to have their future sorted.
Newcastle are determined to keep Alexander Isak, who still has three years on his contract, despite reported interest from a host of big clubs. Callum Wilson’s contract expires at the end of this month and while Howe values him greatly, after an injury-plagued five years at the club, there is no guarantee the 33-year-old will stay on Tyneside.
If he does depart, that will make Newcastle’s search for a striker all the more urgent, but their need for a back-up striker to Isak is not dependent on Wilson leaving.
Newcastle have high hopes for William Osula, after the 21-year-old made 19 appearances for the club this season, scoring twice, but he is currently seen as a support striker to Isak and Wilson.
Brighton head coach Fabian Hurzeler told Sky Sports News on Friday that he expects Pedro and his team-mate Karou Mitoma to return to pre-season training next week.
Earlier this week, Newcastle also had a £45m offer for Anthony Elanga turned down by Nottingham Forest. The Midlands club value the player at £60m and have no desire to sell him.
Newcastle have a list of targets at right-wing and are now reviewing their next move which may include moving on to other players.
These include Johan Bakayoko at PSV, Karim Adeyemi at Borussia Dortmund and Mohammed Kudus at West Ham.
Sky Sports to show 215 live PL games from next season
From next season, Sky Sports’ Premier League coverage will increase from 128 matches to at least 215 games exclusively live.
And 80 per cent of all televised Premier League games next season are on Sky Sports.