Newcastle are now deciding whether to make an improved offer for the midfielder, with Leicester believed to value Maddison at closer to £60m
Eddie Howe remains keen to strengthen his squad despite some setbacks in the transfer market this summer, having been rebuffed in their attempts to sign Everton midfielder Anthony Gordon, while French striker Hugo Ekitike opted for a move to Paris Saint-Germain instead of Newcastle.
Brendan Rodgers says James Maddison added a work ethic and maturity which made him even more impressive
But Leicester boss Brendan Rodgers could be determined to retain the services of Maddison, who produced some impressive displays in the closing months of the season after he dropped out of contention for the England squad following a dip in form.
With defender Wesley Fofana emerging as a target for Chelsea, Rodgers will be reluctant to allow key members of his squad to depart before the start of the new campaign next weekend.
Fofana signed a two-year contract extension with Leicester in March. His deal runs until 2027.
Newcastle United have been linked with a move for Bayer Leverkusen winger Moussa Diaby.
Diaby is one of a number of attacking players thought to be under consideration by the club this summer.
It is understood there may be a gap between what Newcastle are prepared to pay for the 22-year-old France international and Leverkusen’s asking price.