NEWCASTLE have been dealt a transfer blow after Flamengo wonderkid Matheus Franca signed a contract extension.
Eddie Howe had been hoping to bring the 18-year-old to St James’ Park in January but Flamengo rejected a £17.5million offer.
It appears a move to Newcastle is off for the time being as the wonderkid has put pen to paper on a new contract with the Brazilian side until 2027.
Transfer expert Fabrizio Romano has reported that the deal contains a whopping £176m release clause.
The Brazilian’s previous contract included an £88m release clause.
Flamengo were desperate to keep hold of the attacking midfielder having sold Joao Gomes to Wolves for £15m during the recent winter window.
Newcastle pushed hard to sign Franca and had multiple bids rejected for the highly rated Brazilian.
It had been reported that Flamengo wanted a 50 per cent sell on clause included in any potential deal.
Franca has been at the club since the age of 12 and risen through the youth ranks.
Eddie Howe’s men did strengthen their attacking options in January by signing Anthony Gordon from Everton for an initial £40m.
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The Toon are aiming to finish in the top four this season and currently sit fifth, just one point outside the Champions League places with a game in hand.
The club can end their 68 year wait for a trophy in Sunday’s Carabao Cup final against Manchester United.