The Magpies have been left frustrated in their pursuit of several of their initial top targets so far in the window with clubs and agents making high demands.
Newcastle have zeroed in on Leicester attacking midfielder Maddison and slapped in an initial bid for him.
But the Foxes rejected Newcastle’s opening offer for the 25-year-old amid it being claimed that he is open to the move.
Newcastle returned to the negotiating table and have tabled an improved offer around the £40m mark for Maddison.
However, the Tyneside giants are set to suffer a blow as Leicester are tipped to rebuff their second offer for the midfielder.
Maddison is contracted at the King Power Stadium until the summer of 2024, and his future is in Leicester’s hands.
It remains to be seen whether the Magpies will go in with yet another offer for Maddison with less than a month left in the window.
