Both clubs are reportedly in the final stages of discussions, with the improved offer winning the approval of the player himself.
Thiaw has given the green light to the proposed move, signalling his readiness to join the Magpies.
If all parties stay on course, a deal could be concluded shortly, paving the way for the 24-year-old to bolster Newcastle's defensive options ahead of the new campaign.
With talks progressing swiftly, anticipation is building around what could prove to be a significant signing for the club this summer transfer window.