Konoplyanka’s contract with the Ukrainian club expires at the end of the month meaning he is free to speak with any club.
Galatasaray, Stoke, Liverpool and Sevilla are all understood to be interested in the 25-year-old.
The Mirror goes onto state that the players £100,000 a week wage demands have proven to be a stumbling block for Sevilla and Stoke.
Newcastle are also unlikely to be able to match the players wage demands. Galatasaray have edged ahead in the race to sign Konoplyanka according to TalkSport.
The Lions are reported to have offered Konoplyanka a deal worth £1.65 million plus bonuses per-season.
Konoplyanka reached the Europa League final with Dnipro last season but his side lost 3-2 against Sevilla.
The Ukrainian international provided seven assists and scored eight goals in 42 appearances for Dnipro in all competitions last season.