Newcastle United have been informed they will have to stump up more than £37.5 million for Fiorentina defender Nikola Milenkovic.
The centre-half is the latest to be linked to the Magpies, who are desperate to give manager Eddie Howe defensive reinforcements this winter.
According to The Sun, Howe wants to sign two centre-halves, and Milenkovic may be one of them.
Newcastle are also on the trail of Sevilla's Diego Carlos, while their pursuit of Lille's Sven Botman looks all but dead.
Newcastle also missed out on the signing of Lucas Digne, who has joined Aston Villa instead.