Newcastle United fail to agree £67m Premier League deal after PSR transfer bombshell

But Newcastle are understood to have ended their pursuit of the striker as of Monday afternoon.

The 27-year-old has been a long-term transfer target of Newcastle, who are looking for attacking reinforcements with Callum Wilson’s future uncertain. Wilson is heading into the final 12 months of his contract at Newcastle and is understood to be open to a fresh opportunity elsewhere with Alexander Isak cementing his spot as the club’s first-choice striker during the 2023-24 campaign.

Calvert-Lewin has been on Newcastle’s radar since 2021 and heads into the summer transfer window on the back of a solid campaign. Despite previous injury issues, the 11-time England international played 33 times for The Toffees in the Premier League last season, scoring seven goals.

It has been reported that Everton would look for around £37million for Calvert-Lewin, who has a year left on his deal at Goodison Park.

But a loophole in the Premier League’s Profitability and Sustainability Rules saw Newcastle consider striking a deal whilst satisfying PSR. This is because Everton have registered an interest in Newcastle winger Yankuba Minteh.

The 19-year-old was signed by Newcastle last summer for around £7million before being loaned out to Feyenoord. Minteh is yet to feature for Newcastle but his impressive loan spell means the club would stand to make a significant profit should they choose to sell him.

Newcastle reportedly want around £30million for Minteh this summer which, if agreed, could then be amortised over the length of any incoming player's contract. That would help free up Newcastle’s summer spending as it would appear as a profit in the club’s annual PSR calculations.

Both Newcastle and Everton are clubs understood to be under pressure to raise funds before June 30 in order to satisfy PSR. A trade-off that sees Minteh head to Goodison Park and Calvert-Lewin head to St James’ Park in separate monetary deals would have help both clubs combat PSR.

But Newcastle pulling out of talks to sign Calvert-Lewin also effectively ends Everton’s chances of signing Minteh this summer. The teenager has been shortlisted as a summer target for Ligue 1 side Lyon.