Blackburn Rovers have agreed a deal with Newcastle United for striker Adam Armstrong, according to Sky sources.
The 21-year-old was on loan at Ewood Park last season and is expected to cost newly promoted Blackburn £1.75m, but the fee could rise to £3m with add-ons.
Armstrong scored three goals in 23 appearances for Bolton during a loan spell in the first half of last season before joining Tony Mowbray's side on a temporary basis in January.
He scored nine times in 21 matches as Blackburn sealed promotion back to the Sky Bet Championship at the first attempt.
Armstrong made his Newcastle debut in March 2014 and went on to make 17 appearances for the club.
He enjoyed a successful loan spell with Coventry in 2015-16 before joining Barnsley the following year.
Blackburn have already signed Chelsea midfielder Kasey Palmer on a season-long loan deal, while Joe Rothwell has joined from Oxford United and Jacob Davenport has signed from Manchester City.
They start their Championship season away to Ipswich on Saturday.