Newcastle have told other clubs they will have to pay £35m if they want to sign France star Moussa Sissoko this summer, Sky Sports News HQ understands.
The 26-year-old, who joined Newcastle from Toulouse for an undisclosed fee in January 2013, was superb for France as they reached the Euro 2016 final, where they lost to Portugal on Sunday.
Sissoko has already declared he wants to leave Tyneside, telling French website Foot Mercato in June that he wanted to join a team in the Champions League and described Arsenal as a "beautiful" club.
Sissoko said: "I gave everything there for three-and-a-half years. I hope that they will be smart enough to understand that, to continue my development, I need to keep playing at the highest level.
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"As I want to stay in the France team I could not stay in the Championship. There will be discussions. I hope they will go in my opinion. I want to leave.
"I want to continue my career in England, at a club that plays in the Champions League because I think this best fits my style of play."
It is understood manager Rafa Benitez is attempting to persuade his top players to stay and help Newcastle return to the Premier League at the first time of asking.
But the Magpies have already lost Andros Townsend, who signed for Crystal Palace after just six months at St James' Park, and Papiss Cisse, who has moved to China. Centre-backs Fabricio Coloccini and Steven Taylor have been released.
Benitez has had some success so far in the transfer market, landing 21-year-old defender Isaac Hayden on Monday - his fifth signing of the summer so far.