Foot Mercato says Newcastle have made a £49million bid for Nunez.
Benfica are believed to be holding out for at least £60million for the striker - and the fee would represent a sizeable profit from the £20m they paid for him in 2020.
Nunez was playing in the Spanish second tier with Almeira less than two years ago, but he has gone from strength to strength since his move to Benfica in September 2020, when they paid a club record fee for him.
After netting a modest 14 goals in his debut campaign, the striker has become a revelation this campaign, and has rightly so attracted plenty of interest.
The Uruguayan also recently announced his decision to change agents and leave current representative Edgardo Lasalvia, which added fuel to the speculation of his departure from the Portuguese side.
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