The Magpies are pushing for the Ivorian, even initiating talks with Burnley for him, but a compromise has to be reached between the two sides first. Newcastle are unwilling to settle for the release clause, and would prefer paying the fee in instalments.
This is mainly a result of Newcastle having to watch their spending this summer, as they are restricted by financial fair play regulations, and a move for Cornet is well and truly in the balance.
Burnley feel that Cornet has a higher value than his release clause, but it remains to be seen whether Cornet's unwillingness to play in the Championship will force them to accept an offer lower than their £25 million asking price. The Clarets are thought to be willing to accept £25 million spread across a longer period, thus allowing Newcastle to comply with financial fair play rules.
Cornet only joined Burnley last summer for £13 million from Lyon, but he quickly made a good impression at Turf Moor, finishing as their top scorer with nine goals despite being part of a side that eventually got relegated.
The 25-year-old was left out of Burnley's season opener against Huddersfield on Friday, with Newcastle pushing to sign him. Eddie Howe is determined to add a winger and a striker to the side, and Cornet has played in both positions since arriving in England, so it seems like a natural fit.
Eddie Howe was asked on Friday whether the Magpies could bring in another forward before the Premier League opening gameweek next weekend, saying: "Never say never, but as the days tick by it looks more and more unlikely. We're desperate to try and improve the group with the right player."
"I probably wouldn't have hoped to be in that situation (no attacking signing), but that's the transfer window. The most important thing is we get the right players, not the speed with which we get those players," he added.
"There is a slight frustration, but not aimed at anyone from our side, in terms of a frustration that we haven't done business. There is an understanding of the window and the mechanics of what goes into making transfers," Howe continued.
"There is frustration because you want to build your team and you want to get the adhesive nature of that team working quickly," he concluded.
Newcastle have signed three players this transfer window, with Sven Botman, Matt Targett and Nick Pope all coming in, but Howe is determined to continue adding to his squad.