Newcastle United have reportedly decided against offering £15m to sign Charlie Austin from Queens Park Rangers.

Steve McClaren's side are reported to be the leading contenders for Austin's signature since QPR were relegated from the Premier League, but reports have repeatedly suggested that the West London club are unwilling to lower their asking price.

Chris Ramsey insisted on Wednesday that the striker could stay at Loftus Road for the final year of his contract, and the Newcastle Chronicle claims that the Magpies do not believe the deal represents good value.

Despite the concerns over his price, the reports suggest that Austin is still keen to make the switch to Newcastle ahead of the new campaign.

Austin scored 18 goals in 35 league games last season.