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Newcastle were understood to have tabled a £20million bid for the 20-year-old Brazilian that was promptly rejected by Watford, who value the player closer to £35million.

And Edwards confirmed: “The bid that has come in that's been talked about, it's not anywhere near the level that we'd expect it to be for him.”

While United aren’t considering getting close to Watford’s valuation, they are preparing an improved offer in the region of £25million plus add-ons.

João Pedro of Watford during the Sky Bet Championship between West Bromwich Albion and Watford at The Hawthorns on August 08, 2022 in West Bromwich, England. (Photo by Gareth Copley/Getty Images)

Joao Pedro sell-on clause revealed as Newcastle United close in on Watford forwa...

It is unclear whether Watford will accept a fresh bid from Newcastle as manager Edwards is keen to keep the player at Vicarage Road this season.

But The Hornets boss has admitted that an improved offer would at least be considered by the club.

He added: "If anything else was to come in again, then we'll sit down and talk about it as a club and as a board."

Watford manager confirms 'derisory' Newcastle United bid for Joao Pedro – but offers transfer hope