Newcastle have not yet opened talks with former Milan boss Gennaro Gattuso, despite reports linking the Italian with a move to St James' Park.
Recent reports in Italy had claimed the Magpies are keen on recruiting the Italian as a potential replacement for Rafa Benitez. Gattuso left Milan last week after finishing fifth in Serie A and missing out on Champions League football by one point.
Gattuso is thought to be keen on the Premier League following his decision to step down at Milan. The Italian gave up a two year contract at the club he played at for 13 years, as Milan look to cut costs following being pipped to the Champions League by rivals Inter.
Gattuso said: "Deciding to leave Milan’s bench is not easy. But it’s a decision I had to make.
“There was not a precise moment in which I decided it: it was the sum of these 18 months as coach of a team that for me will never be like the others. Months that I lived with great passion, unforgettable months. It is a painful but thoughtful choice.
“Am I giving up a two-year contract? Yes, because my story with Milan can never be a question of money.”
Current Newcastle boss Benitez's future has been uncertain for months, with the Spaniard yet to agree a contract extension amid reports he wants guarantees over the club's spending budget.
Benitez has impressed during his time at St James' Park and led Newcastle to a 13th place finish in the Premier League this season. Serie A side Roma are thought to be keen on a move for the former Liverpool boss.
Roma have also been linked with a move for Gattuso, as have fellow Serie A sides Lazio and Sampdoria.
Newcastle are on the verge of a takeover, as much-maligned owner Mike Ashley appears to be close to selling the club to Sheikh Khaled bin Zayed.