Eintracht Frankfurt have turned down Newcastle's club-record £70m offer for Hugo Ekitike.
Sky Sports News can confirm the German club rejected Newcastle's formal bid this morning - as first reported by Sky Germany.
Frankfurt believe there are other clubs who have signalled they are willing to pay more for the striker whom they value at £85m.
Newcastle held talks with Ekitike's representatives in Austria yesterday as they look to sign the striker they have kept tabs on for a number of years.
Newcastle tried and failed to sign Ekitike in 2022 but he chose PSG instead. Frankfurt then paid PSG just £14m for the 23-year-old last summer.
More to follow...
Ekitike ready for the next step after Bundesliga breakthrough
Sky Sports' Adam Bate:
When Hugo Ekitike was still a teenager at Stade Reims, the coaching staff prepared a development plan for him. They analysed the performances of Kylian Mbappe and then picked out two more players that Ekitike might realistically aspire to replicate.
"These were players with similar profiles from teams that were better than our team, but not at the distance Paris Saint-Germain were from us," Oscar Garcia, Reims' then head coach, told Sky Sports. "We challenged him to reach the level of the other two strikers."
On the face of it, that was a perfectly reasonable short-term target. Prior to his final season at Reims, Ekitike had not even scored a goal in France's top tier. He had spent the second half of the previous campaign on loan at Danish club Vejle Boldklub.
He returned to Reims as the fourth-choice forward but soon forced Oscar to reassess. Soon after that, the two strikers whose level he had been encouraged to hit were no longer in his sights. "Within months, he wanted to reach the same level as Mbappe."
It is a tale that offers a glimpse into the mindset of the Eintracht Frankfurt forward who has long been linked with a move to the Premier League.
"He always was a talented player but some coaches did not like him because of his profile and sometimes because of his character," concedes Oscar. "They were thinking he was a little bit arrogant. He always wanted to be compared with the best ones."