Campbell is currently with the Under 21 squad in Sweden, but although Hull City are waiting for the chance to speak to the youngster, we believe he is waiting for Alan Shearer to be appointed Newcastle boss.
Campbell spent most of the 2007/08 season on loan at the KC Stadium.
Newcastle United have also been linked with a bid for the 21-year-old, who endured a frustrating spell on loan at Tottenham Hotspur last term.
Campbell: "I just want to play football here at the minute and concentrate on England's tournament.
"All that stuff can be sorted out when I'm done here and have had my holiday.
"I've decided that I'm just going to concentrate on England's football."