(Reuters) - Newcastle United are set to break their transfer record by signing Paraguay midfielder Miguel Almiron from Major League Soccer side Atlanta United, according to British media reports.
Sky Sports reported Newcastle would pay about 20 million pounds for Almiron, surpassing the current transfer record of 16 million pounds that was paid to Real Madrid for striker Michael Owen in 2005.
Following a remarkable 2-1 Premier League win over Manchester City on Tuesday, Newcastle boss Rafa Benitez said the club will look to complete "some business" before Thursday's deadline.
"Hopefully we can finish everything on Wednesday," the Spaniard told reporters.
"It's not about a record signing, you have to do the right things to stay up."
Almiron, who has earned 12 caps for his country, scored 13 goals last season as Atlanta won the MLS Cup for the first time.
The victory over City has lifted Newcastle up to 14th in the league standings, five points clear of the relegation zone.
(Reporting by Hardik Vyas in Bengaluru; Editing by Amlan Chakraborty)