Newcastle United broke their transfer record during the January transfer window in 2019 when they signed Miguel Almiron from Atlanta United.
The Magpies reportedly paid £21m for the 25-year-old striker. However, they are ready to shatter their transfer record again this summer, with the club reportedly eyeing up a move for Hoffenheim striker Joelinton.
According to The Chronicle, Newcastle are ready to spend up to £40m to sign the 22-year-old striker who scored 11 goals and provided nine assists in 35 games last season for the Bundesliga outfit.
The report states that the Magpies would be willing to pay £30 million, but they can stretch it to £40 million, if needed.
Newcastle are still attempting to convince boss Rafael Benitez to stay at the club. At the same time, the club takeover rumours continue, with Sheikh Khaled being linked with a move to purchase the club from Mike Ashley.
Benitez will be given transfer funds to sign players of his choice if the takeover happens (and if the Spaniard signs a new deal) and the club will actively try to lure Joelinton with a tempting offer.