Newcastle United have bid £17million for Miguel Almiron, according to a report.
The club is yet to make a breakthrough in this month's transfer window.
Almiron, an attacking midfielder with Atlanta United, is high on manager Rafa Benitez's transfer wishlist.
The Daily Mail claim that Newcastle have had the club-record bid rejected by the MLS club, which is looking for around £25million for the 24-year-old.
Almiron – whose £100,000-a-week wage demands have been leaked – is understood to be keen to come to United.
However, Benitez knows the biggest obstacle to a deal is the fee.
Daniel Campos, Almiron's agent, says he has had discussions with the club over his salary.
"With Newcastle, I spoke about the player's salary, but the club needs to raise their offers with Atlanta if they want to get the player," said Campos.
Newcastle set their transfer record in the summer of 2005 when they paid £16million for Michael Owen.