The two Premier League sides held talks last week over a deal that would see Dominic Calvert-Lewin and Yankuba Minteh swap between Tyneside and Merseyside.
However, Newcastle United could not agree on a fee for Calvert-Lewin and Everton could not match Minteh’s valuation.
Both teams are anxious to strike deals this summer to ensure they comply with the Premier League’s Profit and Sustainability Rules.
HITC understands that both Newcastle and Everton are in talks to try and hammer out a deal that would appease both sides.
In order for the agreement to satisfy PSR, the deals would have to be finalised by Sunday evening with June 30th being the cut-off for the current accounting period.
HITC understands that both teams want deals close to £40million for both players in order to avoid a breach of financial rules.
It is clear that Newcastle are short on their PSR calculations and Minteh is their answer – but they have so far struggled to find an appropriate suitor.
Lyon are keen to land the 19-year-old winger but HITC understands that Minteh has made it clear to Newcastle he wants to join Everton rather than move abroad.
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Similarly, Calvert-Lewin is open to the switch after rejecting the chance to sign a new deal at Goodison Park as he is eager to link up with Magpies boss Eddie Howe.
With both players happy and green-lighting the move, all focus now is on the fees that will be handed over between the two clubs.
Sunday evening is a hard deadline the clubs must meet or else they will put themselves at risk of a PSR breach and a possible points deduction – the clock is ticking.
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