FC Porto have reportedly rejected an offer worth €35 million from Newcastle United for Brazilian winger Pepe.

According to Globo Esporte, FC Porto have turned down an offer worth €35 million for their wide forward Pepe from Newcastle United. The Magpies have been tracking the Brazilian winger for quite some time now but are yet to strike a deal with the Portuguese giants.

Pepe moved to FC Porto just last year from Brazilian side Gremio and made 42 appearances for them across all competitions, scoring six times and assisting as many goals. He largely played as a left midfielder but was also deployed as a left-winger, right-winger and a second striker by Porto boss Sergio Conceicao.

The ability to play across the attacking line has forced Newcastle United to take notice. The Magpies are preparing for a major summer overhaul, and have identified the 25-year-old as a potential summer signing as they look to strengthen their attack. But they are yet to agree on a transfer fee with Porto.

The Portuguese giants are holding out for at least €60 million for the winger, who still has four years remaining on his contract. Pepe reportedly has a release clause in his contract worth €70 million, which is double of the €35 million the Magpies have offered first up.

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Though Porto hope to keep the attacker for longer after having signed him just last year, they can be convinced to sell if the correct offer arrives. Gremio are also set to receive 12.5 per cent of Pepe’s future transfer after selling him for €15 million last summer.

Newcastle are not the only club interested in signing the Brazilian winger but are the only side to have made an official approach. The Tyneside giants had been planning on making a bid since last week.

Arsenal and Crystal Palace were also said to be keeping tabs on the 25-year-old, but both clubs stepped out of a possible move after learning Porto’s asking price. Newcastle retained their interest and have now made an official €35 million approach as they wish to provide competition to Allan Saint-Maximin and Miguel Almiron. It will be interesting to see if they follow up with another bid.

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