The club - owned by former prime minister Silvio Berlusconi - are interested in signing goalkeeper Tim Krul and full-back Davide Santon, according to the Daily Mirror.
Obviously Alan Pardew is trying to keep his players, but we have been down this road before in the January transfer window.
As Derek llambias says: "Every player has his price".
Newcastle have made inquiries about five players, including Saint Etienne striker Pierre-Emerick Aubameyang and former Arsenal striker Jeremie Aliadiere, who plays for Lorient.
Newcastle may seek to fill the gap left by Demba Ba’s move to Chelsea by signing Bafetimbi Gomis of Lyon for a fee of £8.7m.