The News of the World says Toon officials will talk with representatives of Barca and Deco this week in a bid to lure the midfielder to St James' Park.
New Toon owner Mike Ashley wants a global superstar at the club and has Deco high on his list.
A Toon source revealed: "It is no secret Mike Ashley wants a high profile player at the club and Deco fits the bill perfectly.
"The club plan to talk with Barcelona this week to see if the deal can be achieved and are ready to offer Emre plus around £8million in cash."