At a time when a Saudi Arabia-based consortium are said to be close to completing a takeover of the Magpies, Rafael Benitez has been linked with a return to the St James' Park dugout.
According to The Telegraph, the Spaniard has already began to identify possible additions to the first-team squad.
The report suggests that Barkley appears high on Benitez's shortlist having failed to hold down a place in the Chelsea starting lineup.
The England international, who has three years left on his contract, has made just 13 starts and six substitute outings during the current campaign.
At a time when Frank Lampard has his own targets ahead of next season, Chelsea may be open to parting ways with the 26-year-old.