Speculation continues to grow around the future of Brazilian forward Rodrygo, with several Premier League clubs monitoring his situation closely.

Reports from Spanish journalist Guillem Balague suggest that Real Madrid remain unconvinced the 24-year-old would be open to a move to Newcastle United, even if the Magpies were to step up their long-standing interest.

While Newcastle have been linked with Rodrygo throughout the summer, no formal bid has been placed.

The Brazilian attacker has seen little playing time under new manager Xabi Alonso and that has increased speculation about his future, linking him with a move away from the Santiago Bernabeu.

Real Madrid feel Rodrygo is not interested in Newcastle United

Madrid’s initial stance was to demand around €100 million, but insiders believe the La Liga giants could soften their stance if an offer in the region of €60 million arrives late in the window.

Such a fee would represent a significant discount, particularly given Rodrygo’s Champions League pedigree and the fact that he has often been relied upon in high-pressure matches at Real madrid.

The uncertainty has alerted several Premier League clubs. Arsenal, Manchester City, Liverpool, and Tottenham Hotspur are all keeping a close eye on developments. Despite their admiration, none of these clubs have yet taken concrete steps to test Madrid’s resolve.

Arsenal reportedly considered a loan-to-buy approach earlier in the summer, while Liverpool are understood to be evaluating their options should they fail in their pursuit of Alexander Isak.

Rodrygo wants a club who competes for Champions League

Rodrygo Goes of Real Madrid in action (Photo by Alex Caparros/Getty Images)

Rodrygo is believed to prefer remaining at a Champions League-contending side in Spain or moving to a European giant, casting doubt on his willingness to join the Magpies. Even with Newcastle’s financial power, convincing him to join their project could prove difficult.

A lot depends on what happens with Isak and whether he leaves the club for a move to join Liverpool.

The Magpies are preparing for an eventful end to the summer transfer window.

Report: Why Newcastle’s Alexander Isak stance could prove to be costly in the long-run