Newcastle boss Eddie Howe remains determined to prise Joao Pedro away from Watford.
Newcastle have already had two bids rejected for the 20-year-old and now a third has been lodged.
Transfer expert Fabrizio Romano has reported the Magpies have upped their offer.
He tweeted: "Newcastle have sent Watford verbal, final proposal for Joao Pedro after two turned down in the last few days.
"It's worth £25m plus £5m add-ons, still verbal.
"Final decision up to the Pozzo family now."