The Mirror says the Germany U21 international is emerging as a potential replacement for wantaway striker Alexander Isak.
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Woltemade has been the subject of intense interest from Bayern Munich this summer, though VfB's valuation proved a stumbling block.
Now Newcastle are in contact and ready to offer £65m for Woltemade before Monday night's deadline.
VfB have informed Newcastle they're willing to do business, with the offer involvung an initial £60.5m plus £4.5m in potential add-ons.
There is a confidence on both sides of the table that Woltemade will be a Toon player in the coming days.
