Newcastle United are reportedly closing in on the signing of Joao Pedro after agreeing a deal with Watford.

Having missed out to Paris Saint-Germain in the race to sign Hugo Ekitike, head coach Eddie Howe has remained patient in the search for a new attacker.

With Newcastle having started the season with five points from three games, the most recent coming from a 3-3 draw against Manchester City on Sunday, there is an argument that any new arrival may struggle to break into Howe's starting lineup.

However, the Magpies' interest in Pedro has been reported for a number of weeks with Watford in no rush to cash in on the Brazilian unless they receive their valuation.

Newcastle allegedly attempted to sign the 20-year-old for a fee in the region of £17.5m before learning that the Hornets wanted to receive £30m.

According to transfer expert Fabrizio Romano, the two clubs have now reached a compromise with Newcastle committing to paying £25m for the prospect.

Romano adds that a further £5m will come in add-ons and that Watford will receive 10% of any fee that Newcastle may receive in the future.

With personal terms said to have been finalised, the North-East outfit are now expected to officially announce the transfer over the coming days.

Should all formalities be completed as expected, Pedro will compete with the likes of Callum Wilson and Chris Wood for a spot down the middle of Howe's attack.

However, Pedro is also capable of playing from the flank, his versatility potentially important when it comes to regular game time given Wilson's status as Howe's first-choice forward.

Pedro, who is expected to pen a six-year contract at St James' Park, departs Watford having contributed 14 goals and five assists from 78 appearances in all competitions.

One of those strikes came against Newcastle in the Premier League during 2021-22, his performance during that fixture seemingly helping convince Howe to become an admirer of his potential.

Watford have already moved to replace Pedro with Aston Villa loanee Keinan Davis, while Cameron Archer may also be allowed to move to Vicarage Road on a temporary basis. body check tags ::