Newcastle United are looking to strengthen their attack following the sale of Anthony Gordon to Barcelona for €80 million in May.
The Magpies have identified Víctor Muñoz of CA Osasuna as a key target and are keen to secure his signature this summer.
Reports earlier this week claimed Newcastle were closing in on the winger’s €40 million release clause, while further reports suggested a deal worth €35 million plus €5 million in bonuses was being discussed.

Muñoz is currently in the United States for the Club World Cup, and Newcastle are reportedly planning to conduct his medical in Atlanta if an agreement is reached.
Newcastle Confidence Growing
According to Cope Pamplona journalist Alberto Sanz, the 22-year-old continues to attract interest from several clubs.
However, until recently, there had only been verbal approaches, with no written offers submitted. Osasuna have continued to point interested clubs towards the player’s €40 million release clause.
Among the clubs showing interest, Newcastle are said to be leading the race as they currently offer the most attractive deal.
Reports from Spain on Thursday suggested Newcastle had submitted a €35 million offer and that Muñoz had already approved a move to St James’ Park.
While local newspaper Diario de Navarra previously stated that no formal approach had been made, the situation has now moved forward significantly.
Newcastle are understood to have submitted an official bid on Thursday, with confidence growing inside the club that a deal can be completed.
Real Madrid Won’t Activate Buy-Back Clause
A major boost for Newcastle has arrived regarding Real Madrid’s position.
According to the latest reports, Real Madrid will not activate their buy-back clause for Muñoz despite retaining the option to re-sign the player for €8 million until July 31.
Instead, Los Blancos are prepared to benefit financially from any sale, as they retain 50% of the player’s rights.
Should Newcastle’s proposed deal go through, Real Madrid are expected to receive more than €17 million from the transfer.
The Spanish giants have therefore chosen not to stand in the way of the move, clearing one of the biggest potential obstacles to Newcastle’s pursuit.
Deal Moving Closer
Muñoz’s agent, Juanma López, has been in contact with several clubs throughout the summer, but Newcastle’s proposal remains the one with the most momentum.
The player’s own desire regarding his future will also be an important factor, though previous reports have suggested he is open to joining Eddie Howe’s side.
With Real Madrid no longer expected to intervene and Newcastle having now submitted a formal bid, the Magpies are increasingly confident of securing the signing.
Muñoz scored seven goals and provided five assists in 36 appearances this season. The Spanish winger is under contract until 2030 and is currently valued at €30 million by Transfermarkt.