Mings, 21, has been hailed as one of the Championship’s top prospects since making his first-team breakthrough last season, and his performances this term have led to widespread speculation of a move to Arsenal.
The Telegraph were one of a number of British media outlets to report the Gunners’ interest last month, with an £8 million bid mooted, while Arsene Wenger even admitted that the left-back was on his radar at the time.
"We are on a few young players yes, that we always follow,” he told Sky Sports. “He [Mings] is one of the players we follow, but we are not close to signing anybody at the moment."
Nevertheless, Ipswich manager Mick McCarthy revealed to the press last week that Arsenal aren’t prepared to stump up the necessary cash for his star prospect’s signature, giving some hope to other potential chasers.
"They haven’t got enough money,” he was quoted in the East Anglian Daily Times. “Well, they might have enough money but they wouldn’t be prepared to pay it.
“He’s not going anywhere. You might as well hear that from me. He’s not.”
With Ipswich sitting second in the Championship table at present, keeping Mings until at least the end of the season remains one of club’s main goals, but Newcastle are hoping to steal a march on rival interest with an imminent bid, in order to avoid a potential summer scramble.
Whether their efforts will be in vain remains to be seen but, if the reports are true, then it at least goes to show that the club’s current management issues won’t prevent them from making moves in the transfer market.