Arsenal have also been tracking the Montenegrin, but according to Corriere dello Sport Juve have moved to the front of the queue for his signature.
Juve are reportedly to offer him the famous number 10 shirt worn by Alessandro del Piero to lure Jovetic.
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Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.
Newcastle United are staring down the barrel of relegation to the Championship for the second time in the past eight years.