Newcastle transfer news: Toon no longer trying to sign James Maddison

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Newcastle United have been trying to sign James Maddison from Leicester City, but the Magpies will reportedly no longer pursue a deal.

That’s according to the Northern Echo, who state that Toon attempts to bring the midfielder to St James’ Park have been put on hold.

Maddison emerged as a target for Newcastle a couple of weeks ago when it was reported that a £40million offer had been made. It was rejected by the Foxes, and so was the improved bid.

The Magpies returned with £45million on the table plus £5million in add-ons, but Leicester said no again.

Since then there has been speculation about a third offer from Newcastle. However, it looks like that won’t be happening.

Newcastle end James Maddison pursuit

The Northern Echo add that Leicester would not entertain an offer worth less than £60million, which Newcastle think is way too high. That fee would have made him Newcastle’s most expensive ever signing by a long way.

Dan Ashworth was already prepared to make him Newcastle’s record transfer, but £60million has proven to be too much.

In Leicester’s defence, it’s understandable why they want such a big fee for the 25-year-old. He’s a wonderful footballer, and is a proven source of goals and assists. He’s justified that claim already this season, setting up a goal in their 2-2 draw with Brentford on Sunday.

His ability to score and create was why Howe wanted him at St James’ Park, but a deal is simply too expensive. Newcastle’s owners know when to walk away from a deal, rather than wildly overspending. It’s a frustrating approach, but also the correct one.

It means Newcastle will now need to look elsewhere for attacking reinforcements. Talk of a move for Lucas Paqueta reemerged on Tuesday, while there has been speculation over a fresh bid for Anthony Gordon.

The clock is ticking for the Magpies, who have three weeks to make some attacking signings. Two are needed, but one of them won’t be Maddison – unless Leicester dramatically decide to drop their asking price.