Everton have re-signed winger Jack Harrison on a season-long loan from Leeds United, while Newcastle has ceased their pursuit of Everton striker Dominic Calvert-Lewin.
Harrison, 27, played at Goodison Park last season, making 35 appearances and scoring four goals.
“It’s brilliant to be back,” Harrison told the club’s website. “Everton is a great club, there is a fantastic group of lads here and I am excited to get started again with a full pre-season of training.”
Meanwhile, Newcastle showed interest in signing 27-year-old Calvert-Lewin but deemed the reported £40m deal too expensive.
The Englishman is entering the final 12 months of his contract, and Everton began negotiations for a new deal at the end of last month.
Calvert-Lewin joined Everton from Sheffield United for £1.5m in 2016 and has scored 68 goals in 248 games for the club, including eight in 39 matches last season.
As a result, Newcastle winger Yankuba Minteh will not be joining Everton in a separate deal. Instead, Minteh may move to French side Lyon, which has expressed interest in signing the Gambia international.
The 19-year-old spent last season on loan at Eredivisie side Feyenoord, where he scored 11 goals in 37 games under new Liverpool manager Arne Slot.
Friedkin Group pay off £158m loan
Everton’s prospective new owners, the Friedkin Group, have injected £200m into the club, which includes paying off a £158m loan owed to MSP Sports Capital and two local businessmen.
Resolving the loan was a specific condition imposed by the Premier League on 777 Partners, who were unable to secure the funds and ultimately could not complete the takeover.
The remaining £42m will cover short-term, day-to-day running costs for Everton.
A filing with Companies House confirms that the Friedkin Group has taken over MSP’s ‘charge’ on the holding company of Everton’s new stadium. The filing is dated 19 June, with the US-based firm chaired by Dan Friedkin agreeing to an exclusivity agreement with Blues owner Farhad Moshiri the following day.
The Friedkin Group continues to conduct due diligence on the club, and BBC Sport understands that the deal is expected to be completed in weeks rather than months.