Newcastle are stepping up their efforts to add to Eddie Howe’s attacking options and went in with a bid of £40m for Maddison earlier this week.
Leicester City though wasted no time in rejecting the Magpies’ proposal and have slapped an asking price of £60m on Maddison’s head.
The jury is out on whether Newcastle will go back for Maddison, though it has been suggested they are considering making a fresh proposal.
However, Maddison was not the first choice on the list drawn up by Newcastle sporting director Dan Ashworth and boss Howe.
Howe, Ashworth and Newcastle officials held transfer talks before and after the club’s friendly against Atalanta on Friday night.
Leicester are under no pressure to sell Maddison as he still has another two years left on his King Power deal.
The clock is ticking on the transfer window as Newcastle aim to hand Howe with more final third options for the new campaign.