The Daily Express says with their new Saudi-backed owners, the Magpies are now the wealthiest club in the world - and are expected to spend big in the January transfer window to turn their season around.
As Newcastle desperate for more firepower, recent reports have linked the St James Park outfit with a move for Porto's Colombian ace Diaz.
The 24-year-old's £64million release clause wasn't anticipated to be a problem for the mega-rich Magpies, but news of Chelsea's interest in the striker could prove to be a major issue.
The Blues have forged a fearsome reputation in the transfer market due to managing director Marina Granovskaia, who is widely acknowledged as one of the most efficient and ruthless negotiators around.
Diaz is capable of operating on the left as well as through the middle, which could explain Chelsea's interest in the Colombia international.
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