Newcastle United have seen a £40million bid for Leicester City star James Maddison rejected.
The offer was made on Friday but dismissed by the Foxes, despite them currently needing to sell a player or two.
Maddison is a wanted man - but Leicester turned down the bid from Newcastle
The attacking midfielder, 25, impressed last season with 18 goals and 12 assists across all competitions.
An England recall was mooted but so far Gareth Southgate has resisted giving the ex-Norwich star another chance.
Leicester, who are also fending off interest from Chelsea in Wesley Fofana, are yet to sign any senior players this summer.
They need to balance the books as they look to comply with Financial Fair Play regulations.
However, they are not willing to be held to ransom for players they deem to be key for the upcoming season.
Given Maddison's playmaking talents interest in his future will be high and his current contract only has two years to run, unless Leicester make him an improved offer.
Maddison was in excellent form last season but couldn't get an England recall
Fofana, meanwhile, is being eyed by Chelsea
After Newcastle's win over Atalanta in a friendly on Friday night, manager Eddie Howe was asked about the prospect of making any attacking signings.
He said: "Never say never but as the days tick by it is looking more and more unlikely.
"However, the most important thing is that we get the right players, not the speed that we get them in."
Meanwhile, journalist Ignazio Genuardi believes Chelsea have agreed personal terms with Leicester star Fofana but no bid has been accepted for the player.
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