Magpies have been tracking the attacker since the end of the previous campaign.
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Newcastle United are keeping close tabs on how front man Ola Toivonen’s current contract talks progress with PSV Eindhoven a view to possibly making a cut-price £2.5 million move for the Swede when the winter transfer window opens again in the new year, according to reports in the Sunday Express.
The 27-year-old was closely monitored by a whole host of clubs from throughout Europe during the summer, including the likes of both Premier League strugglers Norwich City and Fulham, as well as Serie A outfit Fiorentina.
However, despite rejecting a move to Carrow Road, the Sweden international has still to agree a new deal with the Eredivisie giants and with Toivonen’s contract set to run out in June, it is understood that PSV would rather offload the attacker on the cheap in January than risk losing the player on a free transfer at the end of this season.