Which areas do they need to strengthen?
Injuries have plagued Newcastle for much of the current campaign but even with a fully-fit squad to choose from the Magpies remain in need of defensive reinforcements.
At the other end of the pitch, the club could do with another proven goalscorer with both Facundo Ferreyra and Emmanuel Riviere failing to inspire much confidence.
Add the need for a little more midfield creativity into the mix and the Toon could be set for busy month.
Who have they been linked with?
Virgil Van Dijk, Aleksandar Mitrovic, Benjamin Angoua, Ladislaw Krejci, Winston Reid, James Tomkins, Tyrone Mings, Diego Capel, Michael Krohn-Dehli, Jo, Alexandre Lacazette, Nabil Fekir, Yannick Bolasie.
January Wishlist Best Buys
Virgil van Dijk (Celtic)
Valued at around the £8m-£10m mark by most sources, Van Dijk nevertheless represents real value for money and is exactly the kind of signing the club should be pursuing.
Still only 23, the Dutch defender has impressed throughout his time with the Hoops and has made no secret of his desire to move to the Premier League.
With many of the so-called Champions League-chasing sides yet to move for the Bhoys favourite, Newcastle could steal a march on any rival by recruiting the former Groningen man this month, while also bolstering their defensive options in the process.
Michael Krohn-Dehli (Celta Vigo)
An experienced operator with time in both Holland and Spain to his name Krohn-Dehli may not be a long-term solution for the Magpies but he’s available on a cheap deal and could prove to be the ideal stop-gap on the wing while the likes of Remy Cabella find their feet.
Soon to be out of contract, a move away from La Liga looks likely and if Newcastle don’t snap up this seasoned Denmark international then someone else certainly will.
Aleksandar Mitrovic (Anderlecht)
The Belgian club’s exit from the Champions League at the group stage was the ideal development for Newcastle who have been linked with a move for the club’s Serbian striker for some time.
A young, confident goalscorer who has already netted against Arsenal in Europe, Mitrovic has bags of potential for the future and while his signing would undoubtedly be a gamble, it could prove to be one that pays off for the Toon.
Scott Dann (Crystal Palace)
Largely impressive during his time at Selhurst Park, Dann is only 27 and after fine spells with both Birmingham and Blackburn prior to Palace the defender looks to be on the cusp of a big move.
Good in the air and a mainstay of the Eagles defence, it would take substantial bid from the Magpies to convince Palace to part company with their man but it may well be worth it.
All Odds and Markets are correct as of the date of publishing.
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