Newcastle United are tracking PSV Eindhoven’s Johan Bakayoko ahead of January with the intention to sign at least one player to strengthen a squad manager Eddie Howe has warned is in danger of growing stale.

The Belgium winger has featured prominently in recruitment meetings, but sources have acknowledged a deal in January will be extremely difficult as PSV are reluctant to lose one of their best players in the middle of a season.

The 21-year-old is enjoying an impressive campaign in the Netherlands, with five goals and an assist in 14 Eredivisie appearances. Bakayoko has been watched by a number of top European clubs and is liked by all members of Newcastle’s recruitment committee, which includes Howe, with the feeling being that he would be a strong addition to the right side of their attack.

PSV’s resistance means Newcastle may have to wait until the summer to make the move happen but their interest in Bakayoko is evidence of a shift in approach in their recruitment strategy.

Although Brentford’s Bryan Mbeumo and Bournemouth’s Antoine Semenyo have been extensively scouted and are very much admired, Newcastle do not have the £50-60 million needed in January to tempt either of their Premier League rivals to sell. Newcastle are aware they will be linked with a number of players but have said their spending power is limited and have dismissed reports linking them with players in the £50-60 million bracket.

The club’s hierarchy have repeatedly stressed they remain handcuffed by the Premier League’s profit and sustainability rules and that there is not a lot of money to spend. Indeed, as revealed by Telegraph Sport last month, their ability to bring in any major signing will depend on player sales.

They are looking to recoup around £12 million for Paraguay international Miguel Almiron while former England international Kieran Trippier also remains open to the possibility of a move. If he does depart it would take one of Newcastle’s top earners off the wage bill, which would free up a significant amount of money to pay someone else.

Bruno Guimaraes has once again been linked with a move to Manchester City in the last few days and Pep Guardiola is looking to sign a midfielder in January. But Newcastle have not had any contact with City and sources have said the reigning Premier League champions would have been in touch already if they intended to move for the Brazil international.

That does not mean a bid will not be made if City fail to land other targets but nobody at St James’ Park believes Guimaraes – who is Newcastle’s highest-paid player – will depart next month.

Newcastle are also braced for interest in winger Harvey Barnes, who despite an impressive season statistically – five goals and one assist in the league – has found his first-team opportunities limited as Anthony Gordon is first choice on the left wing. Newcastle do not want to sell Barnes and see him as a valuable asset, but they suspect there could be interest shown in the 27-year-old, who is naturally frustrated at not being able to start more games.

The pursuit of Bakayoko is proof of the change in tact under new sporting director Paul Mitchell. Multiple sources have told Telegraph Sport that the club are no longer going to focus on big-money deals for established Premier League players and are instead looking at a younger profile and more value in the market.

This has led them to focus a lot more energy on foreign leagues, in Europe and further afield. Newcastle are also searching for domestic players who are entering the final year to 18 months of their contracts as they also potentially represent greater value.

The situation has been described as “fluid” and there is a plan in place for recruiting with the benefit of player sales and without.

Although supporters will not want to hear it, there remains a risk that Newcastle will be unable to sign anyone in January because of their financial situation.