Steve Bruce will reportedly become the lowest-paid manager in the Premier League if he is appointed as Newcastle United boss.
The Magpies are in talks with the Sheffield Wednesday manager over becoming Rafael Benitez's successor after the Spaniard left at the end of his contract last month.
Bruce is understood to have agreed terms with Mike Ashley to take over, but the Sheffield Star reports that he would earn a basic salary of £1m at St James' Park - the lowest figure in the top flight and six times less than Benitez was paid.
However, the former Sunderland boss is happy to accept those terms in order to manage the club both he and his family support, while his contract is also thought to include a number of incentive-driven bonuses.
The clubs must now agree a compensation fee for the 58-year-old, with Newcastle hopeful of snatching him for £1m whereas Wednesday are holding out for £5m.
Managerless Newcastle are currently out in China for a pre-season tour which will see them face Wolverhampton Wanderers and either Manchester City or West Ham United in the Premier League Asia Trophy.
Barney Corkhill
