Nastasic looks set to leave Manchester City by tonight's transfer deadline in a loan or permanent deal as Manuel Pellegrini looks to trim down his squad.
French side Marseille are also monitoring the situation as Nastasic looks certain to be on the move before tonight's 11pm deadline.
City have brought in Eliaquim Mangala to partner Vincent Kompany in the heart of defence, while Martin Demichelis is preferred to Nastasic in the pecking order.
A move to Arsenal wouldn't see the Serbia international instilled as a first-team regular however, and Spurs have already bolstered their backline this summer by adding Eric Dier and Federico Fazio.
Newcastle could be an attractive option for Nastasic if he can accept that he will not be playing European football and the Magpies will be keen to bring in a defender as Mapou Yanga-Mbiwa is set to join AS Roma on loan for the season.
Nastasic could be brought in on loan as a result though a permanent switch is not out of the question if City can recoup the majority of the £12 million they spent on him following his switch from Fiorentina in 2012.
Will Nastasic leave City today? Could Newcastle be an idea destination?