Newcastle United have reportedly identified Eintracht Frankfurt playmaker Jesper Lindstrom as a possible alternative to James Maddison and Dominik Szoboszlai.

The Magpies were at one stage believed to be leading the race for Maddison but chose to focus their efforts on Sandro Tonali, whose arrival from AC Milan was confirmed on Monday.

Tottenham Hotspur subsequently swooped in to conclude a deal for Maddison, while Liverpool won the race to sign Hungarian midfielder Szoboszlai from RB Leipzig.

Instead, The Sun claims that Newcastle are now chasing Denmark international Lindstrom, who would prove to be a far cheaper acquisition at £30m.

Newcastle may have to fend off interest from RB Leipzig and AC Milan to secure a deal for Lindstrom, but the former have apparently already had a £21.5m offer turned down by Frankfurt.

Lindstrom registered nine goals and four assists in 38 appearances for Frankfurt across all tournaments last term, and the 23-year-old is not due to become a free agent until 2026.

Meanwhile, Reading are apparently on the verge of sealing a deal for free agent Theo Walcott following his release from Southampton.

The 34-year-old ran down his contract at St Mary's and departed upon the Saints' relegation to the Championship, ending a second three-year stint on the South Coast.

Southampton were managed by Ruben Selles towards the end of their doomed campaign, and the 40-year-old has since been appointed head coach of League One-bound Reading.

According to the Daily Mail, a reunion between Selles and Walcott is now on the cards, as the former England international prepares to sign for Reading after training with the Royals in recent weeks.

Walcott came up with just two goals and two assists in 24 appearances for Southampton during the 2022-23 season, as well as scoring a hat-trick for the Under-21s in a Premier League 2 match versus Middlesbrough.

Sticking with the theme of players departing relegated clubs, Leeds United playmaker Brenden Aaronson is understood to be close to joining Union Berlin on a season-long loan.

The 22-year-old followed Jesse Marsch to Elland Road last summer but struggled to make an impact, coming up with just one goal and three assists in 36 Premier League matches.

Aaronson is contracted to the Whites for another four years, but a summer exit has been strongly mooted following Leeds' demotion to the Championship.

According to journalist Florian Plettenberg, Union Berlin will offer Aaronson an escape route from Leeds, who have given the green light to a loan deal for the 2023-24 campaign.

Plettenberg adds that Aaronson's deal does not include an option or obligation to buy, and the USA international is still waiting to undergo his medical and complete the necessary paperwork.

Union Berlin qualified for the Champions League with a fourth-placed Bundesliga finish last term, allowing Aaronson to return to the top tier of European football after representing Red Bull Salzburg in the competition.

Finally, Bournemouth have reportedly opened talks with AZ Alkmaar over the signing of 19-year-old left-back Milos Kerkez.

The Hungary international - a former product of the AC Milan academy - enjoyed a breakthrough season last term with five goals and seven assists from 52 appearances in all tournaments.

Kerkez played a key role in AZ's run to the semi-finals of the Europa Conference League - where they were beaten by West Ham United - while also starting 33 Eredivisie fixtures.

According to the Daily Mail, Bournemouth have now made contact with the Dutch giants to discuss a deal for Kerkez, who is valued at £20m by his current club.

The report adds that Borussia Dortmund, Leeds United, Newcastle United and Leicester City have also been keeping tabs on the defender, but Bournemouth are the only side to have started negotiations.

Benfica are also said to be admirers of the teenager, who is under contract with AZ until 2026, but the Portuguese champions are not willing to meet the Eredivisie side's asking price.