Brentford have turned down Newcastle’s improved bid of £40m for striker Yoane Wissa.
The Magpies were proposing a £35m initial fee plus a further £5m in add-ons.
Newcastle reopened talks with Brentford on Wednesday but sources told BBC Sport that the latest bid fell below the Bees’ valuation of Wissa.
It is understood Wissa held talks with Brentford’s owner Matthew Benham on Tuesday, a development that prompted the discussions.
The Magpies’ previous bid for the 28-year-old was worth up to £30m.
Earlier this week, Wissa removed all association with Brentford from his Instagram account, external as his future took a fresh twist.
The DR Congo forward wants to join Newcastle but so far Brentford have refused to sanction his exit. He scored 19 goals in the Premier League last season.