Newcastle United set for summer cash boost - regardless of takeover approval

The 24-year-old has been in fine form this season for Peterborough United, netting 26 times in 39 appearances during the club’s push for promotion.

And Toney, who joined the London Road outfit from Newcastle United in 2018, now looks set for a move up the pyramid.

A host of Premier League and Championship sides are keen on Toney, with Peterborough chairman Darragh MacAnthony admitting he will be powerless to prevent the striker leaving if his side cannot gain promotion from League One this term.

"He's the best player in the league,” said MacAnthony, speaking to the Sunderland Echo’s ‘The Roar’ podcast.

"He has it all. We've got nine more games of him and then everyone knows, if we don't go up we'll be selling Ivan.

"If we do go up, then maybe we'll have a chance to keep him."

A summer exit would be good news for Newcastle, who inserted a substantial sell-on clause when they allowed Toney to join the third tier outfit.

And with MacAnthony claiming it would take ‘lottery numbers’ to sign the striker this summer, a seven-figure sum could be heading to St James’s Park.

Peterborough are hopeful that the striker could join a Premier League club, with the current situation in the game perhaps making clubs rethink their recruitment models.

MacAnthony explained: “We'd expect to get a lot more for him [than previous strikers Britt Assombalonga and Jack Marriott], because he's got that physicality to play in the Premier League tomorrow.

"If you're a club at the bottom of the Premier League and need someone who is physical, quick and a guaranteed goalscorer - he hits the criteria.

"Not only that, but he wouldn't be on £40,000 a week like some French striker.

"Now, with what's happening in the world, you would hope some of those clubs instead of shopping abroad and spending £20million, they'll look at lower league players."