Both PSG and Arsenal were interested in signing Cabaye over the summer and while Arsene Wenger has insisted he won't be rekindling his interest during the transfer window, the same cannot be said of Blanc.
He said: "Yohan Cabaye? Sometimes issues like this cool down or heat up then they cool down or heat up again.
"Until January 31, no one closes the door.
"A transfer is a negotiation. The more a player is considered untransferable, the more likely it is that they will change [teams]."
For his part, Cabaye said: "Laurent Blanc and Jean-Louis Gasset are doing good things, and that's fine but that's all there is to it.
"I watch their games and I enjoying watching them but I'm a Newcastle player.
"I'm pretty relaxed about these rumours. I am focused on Newcastle."
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