The 20 year old has come through the academy at Lisbon and made his first team debut at the age in 2012 in a 1-0 win over SC Braga. The Cheltenham born defender has represented England at various youth levels too.
Dier had also spent time at Everton on loan in 2011-12 however he failed to make any first team appearance.
Also able to play as a defensive midfielder, Dier offers huge physical presence, decent pace, good heading ability as well as great tackling ability. And with best years still ahead of him he has plenty of scope to learn.
The Magpies could lose defender Mapou Yanga-Mbiwa who has been available for sale and the acquisition of Eric Dier could come in handy.
The Paper says that the North-East club are reluctant to pay full £5million full valuation of the player.
Given the Lions have financial problems a solution could however still be reached.
Dier has been previously linked with the likes of Chelsea, Arsenal and Manchester United.