The Giallarossi are willing to spend €20m on the player as well as throwing in some rights to a couple of their young players, according to Il Tempo.
Jovetic has been superb for Fiorentina in the last two seasons and has a host of Europe’s top teams chasing him.
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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.