Hughes Is Not Coming To Newcastle!
Hughes sees him as a replacement for Robbie Savage.
Faye, who is currently on loan at Rangers from Charlton, says he would love the move.
However, Fifa regulations prevent a player featuring for three clubs in a single season.
Faye featured in two games for Charlton before and five for Rangers.
Blackburn chairman John Williams: "Faye has already played for Charlton and Rangers so the information I have is that it could not go anywhere at the moment.
"I don't think the change in the Fifa rule is relevant here. It is actually confusing because when you read it at first, the article mentions three clubs.
"But when you re-read the document, it states two.
"It is my understanding that this idea with Faye is going to be caught by the rules. That is where I am standing at the moment."