Newcastle United reportedly fear that they will miss out on the permanent signing of Kenedy as Chelsea are hoping to drive up the winger's asking price.
The Brazilian attacker has helped to transfer the Magpies' fortunes since arriving on a half-season loan in January, playing a direct part in four Premier League goals in nine starts.
Toon boss Rafael Benitez would like to land Kenedy full time ahead of next season, but The Northern Echo reports that interest from elsewhere could price his side out of a move.
Bayern Munich and Paris Saint-Germain are both understood to have made contact with Chelsea, potentially starting a bidding war for the 22-year-old.
Kenedy, who can also fill in at full-back or upfront, has previously stated that he would be happy to remain at St James' Park.
