Dembele is out of contract at Barcelona at the end of the season and despite their best efforts the Blaugrana have been unable to agree an extension with him yet.
New Barcelona coach Xavi wants to keep hold of Dembele, while Newcastle have already been in touch to offer a big deal to the attacker to move to St. James’ Park at the end of the season.
Newcastle and Barcelona could have their hopes scuppered though as, according to French outlet Foot Mercato, another Premier League side have come in for Dembele to rival the pair.
It is claimed that the unnamed Premier League side want to pay Dembele an annual salary of €20m, plus an astonishing €30m signing-on fee.
The proposed deal blows the €15m in wages and €15m signing-on fee proposed by Newcastle out of the water and also piles pressure on Barcelona.
It remains to be seen who the Premier League side to make the proposal are, but Dembele has also been linked with Manchester City.
Dembele, 24, has managed just 73 minutes of football for Barcelona so far this season, with injury keeping him from the pitch.