Betting update: Newcastle firm favourites to sign 57-cap PL hitman ahead of Euro clubs

Newcastle United are favourites to secure the signing of Leicester City striker Islam Slimani this month ahead of a host of European clubs, according to the latest odds from the bookmakers.

SkyBet

name the Magpies as the firm favourites to snap up the 29-year-old Algerian international at odds of 5/2, leading Turkish side Besiktas who are priced at 4/1.

Behind the duo are top four French side Monaco (10/1) and fellow Premier League clubs Watford and Chelsea who are priced at 14/1 and 20/1 respectively, although there are odds of 4/5 offered for him to remain at the King Power Stadium past the end of the January window.

The Mirror

has stated that

the Magpies are willing to break their transfer record, which currently stands as the £16million spent on Michael Owen back in 2005, to secure the striker's services this month, with Leicester said to rate him at £20million

. Slimani, who joined Leicester from Portuguese side Sporting in 2016, has struggled to establish himself as a regular first choice starter at the Foxes, with 13 goals in 46 appearances for the club. This season has seen the 57-cap international forward turn out 17 times, seven of which have come in the starting XI, across all competitions, netting five goals, as he sits behind the likes of Jamie Vardy and Shinji Okazaki in the pecking order. In other Newcastle United transfer news,

Mike Ashley has given the green light for the club to snap up an international hitman for a record equalling fee

.