The Daily Mail says Newcastle are prepared to allow Gayle to leave on loan but with a £20million obligation to buy.
Championship clubs including Nottingham Forest are keen on the 29-year-old.
Gayle hit 23 goals in the Championship last season while on loan at West Brom and is highly-rated as a goalscorer in the second tier.
He has featured just eight times under manager Steve Bruce and is yet to get off the mark for the Magpies this season.
Need a VPN? Or seeking to switch? Then support Tribal Football by clicking here to sign up with our official partners NordVPN. Not only will you receive the best VPN experience, but also great discounts by signing up via Tribal Football. Thanks for your support!