Hugo Ekitike is reportedly closing in on a move to PSG after the French giants agreed a fee with Reims for the striker, who was a top target for Newcastle.
The Magpies chased the signature of the 20-year-old throughout January but were unsuccessful in their pursuit, leading them to signing Burnley striker Chris Wood.
Manager Eddie Howe will now be disappointed to find out that the striker is close to sealing a move to PSG, according to French newspaper L'Equipe.
Newcastle had remained interested in signing the young striker but a deal collapsed last month.
The report claims that the French giants have agreed a £25.5million fee for the France Under-20 international.
The deal is still yet to be completed as the clubs need to agree on whether the fee will be paid in one large sum or in installments.
There are now qualms over Ekitike's contract, which is said to be agreed, with the player ready to sign a five-year deal with PSG.
Ekitike flourished last season for Reims in Ligue 1, as he scored 10 goals in 24 appearances, outscoring every teenager in Europe's top five leagues.
Newcastle will have to find another attacker to bolster their frontline and compete with Wood and Callum Wilson.
Dwight Gale is still a Magpie but he could be on the way out of the club this summer, with multiple Championship sides interested in his signature.