Since the Saudi-backed takeover back at the end of 2021, the Magpies have been linked with a move for the 24-year-old, who has enjoyed a productive spell with the Ligue 1 side.
After making the move from AC Milan for around £18m in September 2020, where the Brazilian had endured a difficult spell, Paqueta has scored 18 goals and registered 11 assists in 65 Ligue 1 appearances.
Following the club-record deal of around £38m to bring Paqueta's former Lyon teammate, and friend, Bruno Guimaraes to St James' Park in January, Newcastle are ready to break it once again with a move for the former this summer, according to The Times.
Guimaraes has been a huge success on Tyneside, and the pair have recently been spotted together in the North East of England, sparking speculation of a potential reunion at Newcastle.
Eddie Howe's side are set for a busy transfer window, with it being the first summer under the stewardship of its Saudi-backed owners, with numerous names linked with a move to the Premier League outfit on lucrative deals. body check tags ::