Newcastle have paid an undisclosed fee and state that 19-year-old striker Toney has signed a 'long-term deal' at St James' Park.
Whether he gets close to Steve McClaren's first-team this season remains to be seen. The article announcing Toney's signing on the official NUFC website carries a quote from Magpies legend Peter Beardsley, now football development manager at the club which suggests he could begin his time on Tyneside with the Under-21's.
For the Cobblers, manager Chris Wilder believes that Newcastle's decision to sign the player is of credit to both Toney and NTFC and says he is working on signing a replacement to strengthen the attacking areas of his squad.