The French international is out of contract at the Camp Nou at the end of the season and Barca are struggling to offer him a suitable new deal due to their ongoing financial problems.
According to Foot Mercato, Newcastle have now joined the race for the 24-year-old's signature following the completion of their Saudi-backed takeover.
The report adds that the Tyneside outfit have already begun negotiations and that Dembele is asking for a €15m (£12.6m) signing bonus.
The forward, who is yet to feature this season due to injury, has scored 30 goals in 118 appearances for Barcelona. body check tags ::