The former England manager has been linked with the north-east English club, along with Birmingham City manager Steve Bruce.
Captain Thierry Henry converted a late penalty to give Arsenal a 2-0 win over 10-man Newcastle United
Arsenal reclaim provisional top spot with 1-0 win at Man United
The club is planning to strengthen it's bid to return to the Champions League by signing two players in next month's transfer window.
Liverpool failed to mark captain Steven Gerrard's 600th appearance for the club with a win when they were held to a 1-1 draw by Newcastle United in the Premier League at Anfield on Sunday which leaves them mired in mid-table.
Rafa Benitez's much-changed side with a youthful streak had looked set to coast through when Sean Longstaff's deflected shot put them ahead after 56 seconds and Callum Roberts volleyed home a second four years since his only other Newcastle appearance.
Images from Saturday's action in the Premier League.
Chelsea were held and Newcastle United and Liverpool humbled on a day of surprises in the Premier League on Saturday when the lesser lights enjoyed some unexpected success against the more established teams.
Alan Pardew suffered the ignominy of becoming the first Newcastle United manager to lose four successive Tyne-Wear derbies against Sunderland after Adam Johnson's late goal subjected his team to more misery against their arch-rivals.
Obafemi Martins scored twice as Newcastle United produced a stirring second-half performance to beat Aston Villa 2-0 on Monday to move off the bottom of the Premier League.
Newcastle United owner Mike Ashley said on Sunday he had put the Premier League club up for sale after falling foul of the fans following coach Kevin Keegan's resignation.
The midfielder was granted bail but with strict conditions and ordered to reappear in court on January 16.
Speaking at a news conference in Newcastle, his club manager Sam Allardyce said the striker had suffered a torn thigh muscle and also had a suspected weakness in his stomach area which may require surgery.
Thierry Henry scored twice in a 3-2 victory in the English premiership.
The incident was one of many involving match officials being confronted in the top flight at the weekend, with the FA also charging Liverpool manager Juergen Klopp with improper conduct for his outburst at an assistant referee.
City having already bagged the title and Newcastle safe, there was nothing riding on the fixture but it served up some rich entertainment
Newcastle United midfielder Joey Barton will miss his team's pre-season tour of the United States after being denied a visa, the Premier League club said on Wednesday.
Newcastle United's Papiss Cisse has gatecrashed the Premier League in spectacular style and his second strike in Wednesday's win at Chelsea could sneak in as a goal of the season contender, especially given its potential importance.
Newcastle United were thrashed 5-1 by second divison leaders Birmingham City in their FA Cup third round replay on Wednesday at St James's Park.
Kevin Keegan said on Thursday he was returning to Newcastle United as manager, 11 years after leaving, because he still had "unfinished business" at the club.
Manchester City roared back to the top of the Premier League with a 6-1 thrashing of Bournemouth after Manchester United steadied the ship
IMAGES from the Premier League matches played on Sunday.
Liverpool beat Newcastle United 3-0 at Anfield on Sunday to maintain their pursuit of Manchester United at the top of the Premier League table and send Newcastle deeper into relegation trouble at the bottom. Second-placed Liverpool moved to 77 points with three matches to play. Leaders United have 80 points and four matches remaining.
IMAGES from the English Premier League matches played on Wednesday
Following their 6-1 thrashing at the hands of hosts Newcastle United, Tottenham Hotspurs players apologised and said the travelling fans would be reimbursed.
Fans return to English grounds, but told not to celebrate goals too much.
Michael Olise scored a stoppage-time penalty as Crystal Palace clawed back from two goals down to draw 2-2 with Manchester City in the Premier League at the Etihad Stadium on Saturday.
Liverpool hammered seven past Manchester United to keep their top-four bid alive in the Premier League.
Brazilian Casemiro struck late to send Manchester United into the FA Cup quarter-finals with a 1-0 victory over Nottingham Forest as teenagers Jayden Danns and Lewis Koumas inspired Liverpool to a 3-0 win over Southampton on Wednesday.
Alan Shearer broke Newcastle United's goal-scoring record in a 2-0 home win over fellow strugglers Portsmouth.
Newcastle United continued their push for Europa League football next season when two excellent goals from Papiss Cisse and a superb strike from Hatem ben Arfa gave them a 3-1 win at West Bromwich Albion in the Premier League on Sunday.
Demba Ba helped injury-hit Newcastle United end a sequence of four successive English Premier League defeats by grabbing two goals in a 3-0 victory over 10-man Wigan Athletic on Monday.
Arsenal laboured to their second win of the season with a highly-charged 1-0 victory against 10-man Newcastle United at St James' Park on Saturday.
The sources requested anonymity because the matter is confidential. Representatives for Manchester United and Sheikh Jassim did not immediately respond to requests for comment.
Reigning champions Manchester City took the lead after 24 seconds but suffered a shock 2-1 defeat at Newcastle United.
Last season's UEFA Cup semi-finalists marched into the last 32 with their third successive win in the group stage.
Demba Ba scored a hat-trick as Newcastle United continued their impressive start to the season with a deserved 3-1 win at Stoke City in the Premier League on Monday.
The victory lifted Newcastle up to 10th place in the Premier League. West Brom stay 17th.
Newcastle United's charge towards Champions League qualification gathered pace on Saturday with a 3-0 home win over Stoke City which moved them into fourth spot in the Premier League as rivals Arsenal and Chelsea could only draw 0-0.