Financial details emerge as Leicester City & Newcastle strike big-money agreement.

Newcastle United are set to sign winger Harvey Barnes from Leicester City in a deal worth around £38m.

Newcastle to sign Harvey Barnes from Leicester City

It’s no secret that the Magpies have wanted to bring Barnes in this summer, and despite supposed interest from elsewhere, Eddie Howe’s side have emerged as the firm favourites to land Barnes in recent days.

And, after more negotiations, it was confirmed by The Athletic that Newcastle have agreed to pay ‘in the region of £38m’ for the wide man, which is a huge sale for the Championship side.

It appears the deal had been dependent on Newcastle raising cash from outgoings after another big spend in the window so far, with Allan Saint-Maximin poised to move to Saudi Arabia, which will free up space and funds for Barnes.

This will be a very attractive move for the 25-year-old, who will be linking up with the north-east side that are trying to build on their top four finish last season, which means they have brought Champions League football back to St. James’ Park.

It was a miserable campaign for Leicester last time out, but Barnes did do well individually, scoring 13 goals from out wide, and he was a threat with his pace and direct style.

What does this mean for Leicester City?

Even though Barnes had two years left on his contract, most would agree this is a good fee for the academy graduate.

Suffering relegation meant Leicester were always going to lose their key men this summer, with Barnes and James Maddison the two standout individuals that were certain to move on.

The Foxes received around £40m for Maddison from Spurs, which was a decent sum, so a similar amount for Barnes was to be expected, despite the former’s contract situation.

Crucially, Leicester deserve credit for getting this sorted early. The Maddison sale triggered several incomings, and you can imagine that more new faces will arrive once Barnes has signed on the dotted line for Newcastle.

Enzo Maresca still wants to improve his squad, and it’s obviously going to be hugely beneficial if they can bring those players in quickly, because they will need time to adapt to the specific demands of the new boss.

Leicester City summer transfer plans

As mentioned, a lot of Leicester’s business this summer was going to be done once they had sold key players, as it was important that they balanced the books.

There have been some high-profile additions so far, with the likes of Conor Coady and Harry Winks sure to be key players this season, but more work needs to be done. Plus, more exits are required, even if Leicester don’t have anyone else in the squad that is going to command a big fee like Barnes, as the squad size needs to be reduced.

It promises to be a busy but exciting few weeks for Leicester, with Maresca’s side starting their Championship campaign with a big game at home to Coventry City on August 6.

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