Newcastle United have reportedly rejected a bid in the region of £80 million for Italy midfielder Sandro Tonali.
Newcastle rebuffed the approach from Premier League rivals Tottenham Hotspur, according to BBC Sport, with Spurs' Italian manager Roberto De Zerbi understood to be eager to add his compatriot to the Spurs midfield ranks.
Sami Mokbel and Newcastle correspondent Ciaran Kelly report that the Magpies are holding out for a higher price for the 26-year-old, who is also an apparent target for Arsenal and Manchester City.
As clubs circle around Tonali, a report in Spain has listed Europa League winners Aston Villa as one of a number of clubs interested in another of Newcastle's young stars.
According to AS, Newcastle could allow striker Nick Woltemade leave after just one season if an asking price of £56 million is met.
"Woltemade's first season [at Newcastle] hasn't been successful, and there are rumours he could leave in this transfer window," reports Francisco Diaz.
"Several teams are closely monitoring the situation, and Atletico Madrid is one of them.
"In the Premier League, it's widely assumed he'll leave Newcastle, who are reportedly asking for €65 million for the striker.
"However, a loan move is also a possibility, as he seeks the goals and consistency he's lacked at his current club. He started brightly, scoring and playing well, but his role diminished as the season progressed.
"Aston Villa could potentially meet Newcastle's asking price, though they aren't the only suitors."
Borussia Dortmund are also tracking the 24-year-old, claims Diaz.
Woltemade joined Newcastle from Stuttgart last summer for a club record fee and scored eight goals in 33 Premier League appearances.
He's currently at the World Cup with Germany but did not feature in either of their group stage wins against Curacao and Ivory Coast.
The transfer window is a chance for Newcastle to refresh their fortunes
Eddie Howe's Magpies qualified for the Champions League through their league position in 2024-25, winning their first major trophy for 70 years for good measure.
But last season was a different story. Newcastle finished in the bottom half of the Premier League table and missed out on a European place by four points.
Winger Anthony Gordon has already been sold to Barcelona for a significant fee and further sales, so soon after the big-money departure of Alexander Isak to Liverpool a year ago, would allow the Tynesiders to retool for a European push in 2026-27.
Spurs' pursuit of Tonali isn't their first under De Zerbi.
The North London side, who finished one place outside the relegation zone, have already spent big on Brighton & Hove Albion defender Jan Paul van Hecke.
Marcos Senesi and Andy Robertson have signed on free transfers after leaving AFC Bournemouth and Liverpool respectively.