Newcastle have had a bid rejected by Nice for Alassane Plea, who is also wanted by West Ham, Tottenham and Fulham.
West Ham are believed to have offered around £26.5m for the French striker, who has attracted interest from several clubs.
Spurs watched him for much of last season, while Fulham have identified him as a possible signing following their promotion back to the Premier League.
West Ham made the first move, with boss Manuel Pellegrini keen to boost their attacking options before the new season starts.
Newcastle then made an approach in the hope of taking Plea to St James’ Park this summer, but Nice want more money.
Plea, 25, began his career at Lyon and has impressed since joining Nice in 2014.
He scored 20 goals last season and reports in France have suggested that a host of European clubs have been showing an interest.
Reports in France have also previously suggested that Tottenham offered around £23m for Plea and that Nice could be willing to sell him for around £27m.
Plea, who can operate as a winger, has represented France at Under-21 and various other age levels.