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Leicester City have rejected a £40m bid from Newcastle for playmaker James Maddison.
Foxes boss Brendan Rodgers is yet to make a significant signing during the current transfer window and needs to raise funds to allow Leicester to comply with Financial Fair Play.
Maddison has two years remaining on his Leicester contract, having signed an extension in 2020.
The midfielder scored 12 goals in 35 Premier League appearances last season.
It is unknown whether the former Coventry midfielder, who joined Leicester from Norwich City for £20m in 2018, would be in favour of a move to St James' Park.
The Magpies have made three signings - defenders Sven Botman and Matt Targett and goalkeeper Nick Pope - in the club's first summer window since last October's Saudi Arabian-backed takeover.
