Newcastle United are no longer interested in signing Manchester United forward Jesse Lingard, according to the UK Telegraph.

Because of his financial demands, they have lost interest in the England international.

Lingard is rumored to be demanding compensation that exceeds Newcastle's salary structure.

The Magpies were anxious to sign the 29-year-old on loan during the January transfer window, but the deal fell through due to United's £16 million loan fee.

Although Lingard was forced to remain at Old Trafford, he rarely played for the Red Devils as their miserable season continued.

Newcastle manager Eddie Howe was expected to rekindle his interest in the attacking midfielder this summer on a free transfer.

It now seems unlikely that Lingard will join after ruling out his move to the North East with salary demands in excess of £150,000 a week plus a huge registration fee.

The report also claims that making Lingard the highest-paid player at the club, when he will also turn 30 before the end of this year, is not as attractive to Newcastle as the loan move had been in January.