The two Premier League clubs are looking to bolster their ranks before the end of the winter transfer window.

Premier League club Newcastle United have made a huge offer for Lyon midfielder Bruno Guimaraes, multiple reports from the European media have revealed. The Magpies have reported tabled a $40.5M bid to secure the service of the 24-year-old Brazilian midfielder, with both Arsenal and Juventus said to be monitoring his situation at Lyon.

Newcastle remain in the Premier League relegation zone but are keen on turning their fortunes around after the Saudi-Arab takeover in October last year. Backed by the wealth of their new owners, the St James' Park outfit has already added to their ranks in January with the signings of Kieran Trippier from Atletico Madrid and Chris Wood from Burnley.

On Tuesday evening, French publication L'Equipe revealed that the club had made an offer of $40.5M to Olympique Lyonnais for Guimares. With the Ligue 1 club apparently in financial trouble, the report suggests that they may be forced to consider an offer of this size, as it is practically twice what they paid for the midfielder two years ago. There are also claims that Newcastle are offering to quadruple the wages of the Brazilian international to almost $250,000 per week in order to wade off the interest of Arsenal and Juventus.

In North London, Tottenham Hotspur are also keen on making moves before the winter transfer window closes and are targeting the signing of FC Porto attacker Luis Diaz. According to Sky Sports, Antonio Conte's side are in talks with the Portuguese club and the player's representatives and are willing to offer $50.8M up front for his signature.

Although an additional $11.3M will also be included in performance-related add-ons, reports from Portugal claim that FC Porto want $67.8M for the winger. Diaz has scored 16 goals and registered six assists in 28 games for the Portuguese side this season and also remains on the radar of Manchester United and Liverpool.