Newcastle have held talks with Ryan Fraser but are yet to agree personal terms with the free agent.
The Scotland international left Bournemouth when his contract ended in June, refusing to sign an extension to play at the Vitality Stadium upon the restart of the Premier League season.
Crystal Palace are also showing interest in the 26-year-old, but it is understood he is keen on a move to Newcastle to be closer to his family in Aberdeen.
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Fraser helped Bournemouth earn promotion from League One in his first season at the club in 2013, before winning promotion to the Premier League with them two years later.
Sky Sports News reported on Tuesday that Newcastle are also trying to structure a deal for Fraser's former Bournemouth teammate Callum Wilson that would see Matt Ritchie move in the opposite direction.
Newcastle boss Steve Bruce sees Wilson and Fraser as his primary targets this window while the club remains in talks with Arsenal over a loan deal for centre-back Rob Holding.
Holding would boost Steve Bruce's centre-back options going into the new Premier League season, which starts at West Ham on September 12.
Federico Fernandez and Ciaran Clark started at centre-back in Newcastle's 2-1 friendly win over Barnsley on Saturday, with Florian Lejeune and DeAndre Yedlin replacing them off the bench. Jamaal Lascelles meanwhile is recovering from an ankle injury.
All the latest news, analysis and rumours from the window in one place.
The summer transfer window will run for 10 weeks from July 27 and close at 11pm on October 5.
A domestic-only window for trades between the Premier League and EFL then runs from October 5 and closes on Friday, October 16 at 5pm. Follow all the news and analysis on Sky Sports News and across Sky Sports' digital platforms, including with our dedicated Transfer Centre blog.