The French World Cup winner is yet to pen a new contract at Manchester United, with his current deal set to expire at the end of the season.
Waddle told The Sun: “Paul Pogba's out of contract isn't he?
“Now people might say about Newcastle — but money talks.
“If they sell the dream about what we're going to win and achieve, it might."
Waddle, 60, also urged Newcastle to 'test' the big teams in the hunt for new talent that can drive the North-East giants away from the bottom of the table.
He continued: “And then, do you raid the big teams?
“Your Bayern Munichs and teams like that and say 'we want him, we want him'.
“Test them. Could you get somebody like Eden Hazard out from Real Madrid? On loan even until the end of the season and then pay a fee.
“And then do you test teams like Arsenal for your people like Emile Smith Rowe?
“There are so many talented players at a good age, and this is what it's about.
“It's not about buying 31 or 32-year-olds and thinking 'we'll use you for a year' and paying an absolute fortune.
“It's about building a team over the next five years.
“Yes, of course, you'll add to it, get some players out.
“But the first three, four, five signings are people who you think will pen a five or six-year contract and will be there for that period of time."
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