Newcastle set to step up James Maddison transfer pursuit after rejected £40m offer – but WON’T match £60m asking price

NEWCASTLE are set to step up their interest in Leicester star James Maddison, according to reports.

The Toon are claimed to have had an initial £40million bid turned down for the attacking midfielder.

Eddie Howe is keen on the 25-year-old and is hopeful that a deal can be reached.

But according to the , Newcastle won't "go near" Leicester's £60m asking price.

Club chiefs are hoping that a compromise can be found with the Foxes.

Despite their lack of European football, Newcastle believe that Maddison would be keen to join.

Leicester are the only Premier League side yet to sign a single player this summer.

Their slow window has stemmed from being unable to shift unwanted stars.

This could open them up to having to flog more valuable assets, but boss Brendan Rodgers is hopeful of keeping his star creator, who has two years remaining on his contract.

The Northern Irishman said: "He’s still very much a player here. Naturally, the players are sought after because they are talents.

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"You see his performance, you see how happy he is and he’s not a player we want to sell.

"It’s not for me to put valuations on the players, it’s not my side, but that might just cover three-quarters of his left leg, that price. He’s a top player."

Despite their riches, Newcastle are limited in their spending this summer by financial rules.

They have so far spent £35m on Sven Botman, £15m on Matt Targett and £10m on Nick Pope.

Newcastle are also keen on Burnley ace Maxwel Cornet, but reportedly don't want to pay his £17.5m release clause.

Leeds star Jack Harrison is another on their radar.