Ameobi has signed for SIX games, and he has yet to prove his fitness after a long lay-off through injury.
The Mail on Sunday claims the staggering deal makes Ameobi the most expensive loanee in English club history.
And the final figure for the striker, who has not scored for nearly 18 months, will approach £1million if Stoke go up via the play-offs, with a bonus due to Newcastle on promotion.
Stoke City chairman Peter Coates: "We wouldn't want to look back and think we haven't had a go. We have done a deal and taken that risk. There are no guarantees but we're trying not to miss out."