Three Premiership teams are locked in a race to sign Australian Brett Emerton from Feyenoord - but Newcastle are not one of them, according to the Dutch club.
Emerton wants to play in England
Newcastle had an £8m bid for Emerton rejected last summer and are believed to have had recent £3m offer turned down for the player, who only has one year left on his contract.
Feyenoord are holding out for more and their demands could be met by one of three other English clubs interested in the player, who can play on the right of defence or midfield.
"There is little likelihood of Emerton playing at De Kuip (Feyenoord's ground) come August," read a club statement from Feyenoord.
"Feyenoord are currently in talks with three English clubs about a transfer; Newcastle United are not one of them.
"Emerton's potential new employers all know what he's asking for. The transfer may be done and dusted by the weekend."
Chelsea are bound to be one of the clubs linked with Emerton as they are now financially flush following the recent takeover at Stamford Bridge.
But Blackburn Rovers ar being tipped by many as the most likely buyer following their sale of David Dunn.
Tottenham and Middlesbrough are also thought to be interested.
"Talks are going well and at an advanced stage," confirmed the club's press officer Fred Blankemeijer.
"There could be an announcement today, it could come on Saturday or even Sunday.
"We should be able to give more news soon."