Newcastle, newly fuelled by Saudi billions, wants Kiwi striker Chris Wood

Burnley's Chris Wood (left) holds off Newcastle United's Jonjo Shelvey during a Premier League clash at St. James' Park on December 4, 2021. Photo / Getty

Newly-wealthy Newcastle United have turned their attention to Burnley striker Chris Wood in their search for a centre forward and hope he will sign this week.

Telegraph Sport has learned that Newcastle have made an approach for the New Zealand international and are pushing hard to make the deal happen, even though they would be signing a player from a relegation rival in Burnley.

The Kiwi striker would like to make the move across the Pennines and Newcastle will intensify their efforts to land the 30-year-old. Interestingly, they have not been discouraged in their pursuit so far and Wood has become one of their priority acquisitions.

The struggling club suddenly became one of the richest in the Premier League - and the world - when Saudi Arabia's Public Investment Fund paid £305 million ($611m) for an 80 per cent stake in October.

Under Fifa's Financial Fair Play regulations, the deep-pocketed new owners can spend up to £143m on new players.

Wood has a £20m-£25m release clause in his Burnley contract.

The New Zealander is not the only striker target Newcastle are looking at, with Arsenal's Eddie Nketiah also an option, along with Liverpool's Divock Origi.

Burnley signed Wood from Leeds in 2017 for a club-record fee of £15m ($30m).

The Kiwi went on to become one of just six Premier League players to score 10 or more goals in each of the past four seasons.

In November 2019, Wood extended his Burnley contract until 2023 - reportedly increasing his annual salary from £2.6m (or £50,000 per week) to £3.7m (£72,000) in the process.

Although a sizable pay packet by New Zealand professional sports standards, Wood's remuneration is mid-tier in the EPL, where last season's top scorer, Tottenham's Harry Kane, earns £200,000 per week and Manchester United newcomer Cristiano Ronaldo a reported £480,000 per week.

The Premier League's January transfer window is now open. Newcastle have so far only signed one new player - ex-Tottenham right-back Kieran Trippier from Spanish giants Athletico Madrid for £12m. The England international will reportedly earn more than £100,000 per week at his new club. Wood could be on a similar wage if he also makes the move.

New blood is sorely needed at Newcastle.

The club are currently second-to-last in the Premier League and were knocked out of the FA Cup by third-tier Cambridge United.

Following the humiliating defeat, Newcastle chairman Yasir Al-Rumayyan, flanked by his highly visible bodyguards, made a surprise visit to the dressing room.

The chairman's message was not made public.

Asked about the visit after the game, new coach Eddie Howe, who will be pushing for the owners to sign a centre back and a striker before the vital Premier League home game against fellow relegation strugglers Watford next weekend, insisted the owners wanted to send a positive message

"I personally wasn't in there for that," Howe explained. "Then they saw me with my coaching team after.

"I believe they were very supportive to the players, highlighting the fact we're very much in this fight to stay in the league together, and they're very much behind everybody. I can't thank them enough for that support.

"I think it was really beneficial for the players to be able to see that and hear that because this journey we're going on currently and this fight we're in to stay in this division is a united effort from everybody at the club."

There is keen incentive for Burnley to avoid the chop. Last year, the club received £101.7m for coming 17th in the Premier League.

If Wood does sign with Newcastle, it is likely his contract will have a release clause in the event the club fail to avoid relegation.

- With reporting by Herald staff