Newcastle have had a £300,000 offer accepted for the Australia international.
Howe said, "I'm very excited. He is a young player with huge potential. It shows from the club and myself where we want to go in signing young players and trying to develop them in our system for them to be Premier League players in the future. He's had a dramatic rise and he's in a position that excited everybody.
"There needs to be patience shown. We will look after him and he'll go out on loan and learn and develop behind the scenes and hopefully when he comes here he can play a part in our future.
"He's very sharp, agile, quick, a good finisher. He's got a lot of very positive ingredients and that is going to be nurtured and developed in the next couple of years to get him at the right level for the Premier League. I met him for the first time in person yesterday. That was a very good conversation. He is a very confident, independent lad who has got high motivation. He had offers, various options. Playing well against Barcelona recently elevated his status but thankfully we were able to win the race to sign him and we were very pleased to do so."