Swansea manager Alan Curtis says the club would consider selling England midfielder Jonjo Shelvey in the January transfer window.
Shelvey has fallen out of favour at Swansea since Curtis took charge last month and Press Association Sport understands Newcastle have formalised their long-held interest in the six-times capped international.
It is understood Newcastle are willing to pay £10m for the 23-year-old Londoner, although Curtis said he is unaware of any firm offer being tabled.
However, Curtis, who started Shelvey in the 3-2 FA Cup third round defeat at Oxford on Sunday, appeared to open the door to Shelvey moving on this month during his press conference ahead of Wednesday's Barclays Premier League match with Sunderland.
"I know there's been inquiries for Jonjo, but I don't think there's been any firm offers for him," Curtis said.
"If a firm offer comes in for him then it's something the club would probably consider.
"If Jonjo is right mentally and he's focused on the job then he is a terrific asset for us. If he's not, then it's different.
"I still think he's got a part to play, if his mind is right then he can still play a huge part between now and the end of the season.
"But we need a Jonjo that has got the right mindset.
"I think he's frustrated with his own performances as much as we are as coaches, and I'm sure supporters as well."
Swansea's need for a reliable goalscorer could also outweigh the need to keep Shelvey.
Only bottom club Aston Villa have managed fewer than Swansea's 17 Premier League goals and Curtis is determined to sign a new striker with the the Welsh club two points above the Premier League relegation zone.
That could put question marks against the future of French striker Bafetimbi Gomis, who has also been on the fringes since Curtis took over.
"If strikers come in Bafe might look to his future," Curtis said.
"But, like Jonjo, he's hopefully got a big part to play for us.
"If somebody comes in with a concrete offer and the club feels it would like to accept it, then players move on.
"That's the nature of the game today."
Asked whether the sale of Shelvey could release transfer funds for a striker, Curtis replied: "That might be one of the reasons something is done with Jonjo.
"If it allows us to bring someone else in that might be the case.
"If we need to bring someone else in on the back of Jonjo then that is an avenue we might go down.
"I might have a little bit of a say in it (response to Shelvey offer) but it would be something for the powers to be to weigh up.
"But if Jonjo's mind is right and he wants to stay then I would gladly welcome his decision to stay with us until the end of the season, absolutely."
Curtis said he had not spoken to Shelvey over his apparent altercation with one or two Swansea supporters at Oxford.
Shelvey went over to the crowd after the match and appeared to gesticulate to some fans after they turned on him.
"I've seen stills, not the actual incident," Curtis said.
"The supporters were rightly disappointed and frustrated by the performance and the result.
"Why they turned to Jonjo, in particular, I'm not 100 per cent sure - and why Jonjo reacted I'm not 100 per cent sure.
"I've not really had an opportunity to speak to Jonjo as he was doing recovery work (on Monday) but I will certainly try and catch up with him."