Globo Esporte reported on Thursday that Newcastle United are among the clubs who "have shown and continue to show interest" in López, joining a long list of Premier League clubs who have been tracking the 25-year-old across a season in which he has registered 13 goals and seven assists in 30 appearances — making him one of the most productive attacking players in South American football.
Tottenham Hotspur, Everton, Brentford, Fulham and West Ham United have all been linked. Atletico Madrid have also monitored the situation. Newcastle's arrival at the table adds further pressure to a process Palmeiras are not yet ready to open formally.
The Brazilian club have not set a minimum asking price internally, according to Globo Esporte — a position that reflects the genuine ambivalence at Allianz Parque about selling at all. Palmeiras rejected a reported €45 million bid from Napoli earlier this year and their preference remains to keep López, who is under contract until June 2029.
However, the landscape has shifted. López is now widely expected to be included in Argentina's World Cup squad when Lionel Scaloni names his final 26-man group next month. He has been in squads since October 2025 and his form this season — including his fifth consecutive season as top scorer or close to it at Palmeiras — makes his exclusion increasingly difficult to justify.
If López performs at the World Cup, his market value will climb significantly beyond the €40 million to €45 million range that had previously been cited. That is both the opportunity and the risk for any club considering moving before the tournament rather than waiting until the window formally opens on 20 July.
López joined Palmeiras from CA Lanús in 2022 for approximately €6 million. He has scored 66 goals in 201 appearances for the club across all competitions.
Amid doubts over Yoane Wissa and Nick Woltedmade, Eddie Howe has identified frontline reinforcement as his most pressing requirement.
The queue for López is long. Newcastle have now formally joined it.