The 26-year old witnessed first hand the strong relationship that Reina shared with former Rafa Benitez confidant and goalkeeper coach, Xavi Valero.
Unfortunately, Valero did not follow Benitez to the Magpies, instead taking an opportunity to work in China.
But there is no doubt the pair would have chatted about bringing the Spaniard to Tyneside.
Reina's agent has stated publicly that no offers have been received for his client.
However, Benitez still holds hope of signing the 34-year old as he has yet to sign a one-year extension put forward to him by the Serie A club.
And Oldfield, who spent 18 months working under Benitez at Liverpool, believes his old manager has the best chance of signing the 2010 World Cup winner.
"If he's going to go to go to any club and Newcastle are interested, he'll go there," Oldfield told Tribalfootball.
When asked if Newcastle would benefit from signing Reina, Oldfield said: "Of course they will. He is a professional and he will benefit any team he goes too."