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Wood, signed a year ago from Burnley in a £25million deal, is set to join Nottingham Forest on loan for the rest of the season. If a series of “conditions” in the loan agreement are met, the move will become permanent in the summer.

Newcastle United confirm first January transfer window deal

And Sky Sports that Newcastle will bank a £15million fee if Wood – who has featured in all but one of the club’s 19 Premier League games this season – joins Forest at the end of the campaign.

The club will also be paid a loan fee by Forest, who are 13th in the table.

United head coach Eddie Howe – who will want to sign a replacement for Wood – will speak to the media this morning ahead of tomorrow’s game against Crystal Palace at Selhurst Park.

Chris Wood 'fee' revealed ahead of Newcastle United striker's Nottingham Forest move