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Newcastle United target Giovani is set to cost at least €25m, according to reports from Brazil.

The information comes from journalist Jorge Nicola, who shares some news on the youngster following the weekend reports about Magpies interest in him.

The reporter recalls that Palmeiras had already turned down two offers from Ajax for Giovani last year, one of them being worth €18m. Besides the Dutch side and Newcastle, the likes of Barcelona and Bayer Leverkusen are said to be chasing him as well.

The Brazilian club have recently made big sales by negotiating Endrick’s sale to Real Madrid and Danilo to Nottingham Forest. That’s why they don’t need to accept any bids that arrive for Giovani, so Nicola believes €25m is the minimum price to convince them to negotiate.

Newcastle’s interest in the 19-year-old was reported by ESPN Brasil on Saturday. It was claimed that the Magpies had scouts watch him in the game against Guarani on Sunday.

According to the story, Giovani had been on the club’s radar last year, when he was recovering from injury. Now that he’s back in action, he’s set to be chased by European clubs once again.