Benfica striker Darwin Nunez is a name that has featured prominently in the media over the last six months and it is believed he is on a list of potential targets for the Magpies.
However, the Telegraph have reported Newcastle are turning their attention elsewhere after Nunez informed them he only wishes to join a club that are competing in the Champions League.
Newcastle are said to be considering a move for a familiar face as an alternative to Nunez.
Brentford striker Ivan Toney is reportedly being targeting for a return to Tyneside, four years after leaving St James Park to join Peterborough United.
Reims forward Hugo Ekitike also remains on the list of targets after he turned down a move to the club on the final day of the January transfer window.
Portuguese outlet Record have suggested Arsenal are a more likely destination for Uruguayan international Nunez.
Gunners strikers Alexandre Lacazette and Eddie Nkeitah are set to leave the Emirates Stadium when their contracts come to an end this summer - and Mikel Arteta is said to have already held talks with Nunez’s representatives as he looks to see off a number of clubs to land one of European football’s most in-demand strikers.
Defender blow for Magpies
Newcastle have been dealt a further blow in the transfer market after centre-back Nico Schlotterbeck agreed terms with Borussia Dortmund - according the Sky Germany.
The Freiburg defender was believed to be attracting interest from the Magpies and Premier League rivals Spurs as an inevitable summer departure from his current club draws near.
Bayern Munich withdrew their interest earlier this week as they target a more experienced defensive option - and that looked to have handed a boost to Newcastle’s hopes of attracting one of Germany’s most promising defenders.
But that hope seems to have been short-lived as Schlotterbeck agreed a reported £72k-a-week deal with Dortmund and an agreement over a transfer fee is “likely” to be found in the near future.
Aston Villa await news on future of Magpies loan star
There can be no doubt Matt Targett has been a success since he joined Newcastle in a loan deal from Premier League rivals Aston Villa.
The left-back has become a permanent fixture in Eddie Howe’s side and has made a significant impact to help the Magpies move away from the relegation zone.
Confirmation over a permanent move to Tyneside has not yet arrived - but the Express & Star have revealed Villa are expecting to wait for news over Targett’s future after Eddie Howe confirmed no decision had yet been taken.
The report suggested Villa are keen for final confirmation as the move will impact on their own transfer plans for the summer.