The Magpies have agreed a fee with AC Milan to sign Tonali and are now trying to put the finishing touches to the deal.
Newcastle have sent officials to Romania, where Italy’s Under-21 base is, as they are putting Tonali through his medical paces to snap him up.
Hislop stressed that the Magpies are not going to just flex their financial muscles and they are willing to spend sensibly.
He suggested that Newcastle are spending big money on Tonali because they are also considering the resale value of the midfielder given his age.
“That is not what Newcastle are going to do”, Hislop said on ESPN FC when he was asked why the Magpies are not spending the money to sign Harry Kane instead.
“They are not going to financially compete with Manchester United etc.
“They are happy to spend €70m on Tonali, who is 24 years old and I see that as a longer-term project.
“And one that they can get some return on if he is to leave some point in the future.”
Tonali will bank a big pay rise when he completes his switch to Newcastle.
