Newcastle are reportedly prepared to offer Paulo Fonseca £6million to take over as manager at St James' Park following the dismissal of Steve Bruce.
Bruce was axed on Wednesday having failed to win any of his first eight Premier League games this term, which leave the club 19th in the table.
Under the new Saudi-backed ownership, which sees Amanda Staveley as one of the the public faces in her role as a director, Bruce surprisingly took charge of the 3-2 defeat by Tottenham on Sunday before his departure by 'mutual consent'.