Newcastle are prepared to break the bank to land Mauricio Pochettino as manager - by offering him a £19million-per-year contract.
The move would see the former Tottenham boss become the third-highest paid manager in world football.
Mohammed Bin Salman's Newcastle takeover is expected to be completed in the coming weeks, and he wants the acquisition of Pochettino to be the first step of his overhaul of the club, reports The Star.
Pochettino has been out of work since his sacking by Spurs in November last year.
The Argentine coach is believed to have been unable to accept a new role elsewhere until this summer.
Newcastle's current manager Steve Bruce has not spoken to the club's prospective new owners, including Amanda Staveley, who is finalising the takeover on behalf of the Saudi consortium.
But Bruce is resigned to losing his job despite steering his hometown club clear of the relegation zone.
The 59-year-old could see out the remainder of the season if the campaign does eventually resume, but it is likely he would be replaced ahead of next term.
Bin Salman is the Crown Prince of Saudi Arabia, and will become the fourth richest owner in the Premier League once his takeover is confirmed.
He is willing to offer Pochettino in the region of £400,000-per-week to take the reins at St. James' Park.
Only Man City's Pep Guardiola and Atletico Madrid's Diego Simeone earn a higher salary as managers.
Pochettino's stock is still high despite his sudden departure from Spurs, having led the side to the Champions League final and several top four finishes on a limited budget.
He has previously been linked with the hotseat at both Real Madrid and Man Utd, but it appears Newcastle will land his services.
Speaking back in February, Pochettino said: "I would love to work in the Premier League again.
“I'm ready and waiting for the next challenge and have the belief and confidence that it will be fantastic.”
