Arsenal and Newcastle United receive boost in pursuit of Ligue 1 midfielder as PSG pull out of race - reports

Paris Saint-Germain (PSG) pulling out of the race to sign Lyon midfielder Lucas Paqueta will encourage Arsenal and Newcastle United.

The Ligue 1 leaders had long been touted with a move for the Brazilian 24-year-old but it appears they have dropped their interest.

According to ChronicleLive, PSG feel the financial package for Paqueta is too much. So it paves the way for the Gunners or the Magpies to swoop in. The fee being reported to sign the midfielder is £58 million with wages expected to be around £180,000 a week.

Paqueta has enjoyed a fine season for Lyon, scoring nine goals and providing six assists in 38 appearances across all competitions.

He recently incurred an ankle injury that saw him miss Lyon's second-leg quarter-final tie with West Ham United in the UEFA Europa League. His absence was clearly felt as the French club bowed out of the competition with a 3-0 defeat.

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Will Lucas Paqueta head to Arsenal or Newcastle United?

The Brazilian is having a fine season

With PSG having now halted their pursuit of the Brazilian international, it is now a two-man race between the Gunners and the Magpies.

This may be a unfamiliar occurrence for the likes of Arsenal, who in years past would not have expected Newcastle to be in the equation. However, following the Saudi-led consortium takeover last October, Eddie Howe's side now possess the financial muscle to battle the top teams in England.

They have already proven this by managing to lure former Lyon midfielder Bruno Guimarães to the club in January for £38 million.

Paqueta knows Guimarães from their time together at Les Gones and a move to St. James' Park would see the two Brazilian compatriots reunited.

It would also mean a second defeat to the Tyneside club for Mikel Arteta, who had been tracking Guimarães prior to his move to Newcastle (via Sky Sports).

Paqueta may feel the familiarity of having played with Guimarães before will help him adapt to life in the Premier League.

However, what Arsenal may be able to offer him European football that the Magpies won't be able to.

Whether that will be in the UEFA Champions League, Europa League or the Europa Conference League remains to be seen.

The Gunners are currently fifth in the Premier League table, three points off fourth-placed Tottenham Hotspur but have a game in hand.