The Daily Mail says Newcastle want to pip Portsmouth to the signing of Aimar after the south coast club balked at the £7million asking price.
Despite their own cost-cutting, Newcastle believe they can strike a deal with the Argentina midfielder's relegated team Real Zaragoza. The Spanish club are desperate for cash.
Newcastle manager Kevin Keegan is a big attraction to Aimar, who is eager to play in the Barclays Premier League. Talks will be held over the next 24 hours.