The Dutch ace has been linked to both clubs recently.
The attacking midfielder impressed last season, scoring 18 goals as PSV were crowned Eredivisie champions for the first time in five years.
Dick Advocaat is said to be monitoring his native Holland for the best available talent but isn’t specifically interested in the PSV man.
Steven McClaren’s bid to inject a new lease of life into an insipid Newcastle front line could see the Toon move on the £11 million-rated player.
What would he bring?
Named the Eredivisie Player of the Year last season – ahead of Manchester United’s Memphis Depay – Wijnaldum offers electric pace and great dribbling technique.
He’s an attacking midfielder who will commit defenders and make chances for himself. His movement off the ball is also noticeable and he displays an awareness so sought-after in attacking players.
Wijnaldum's signing would be a huge boost to either Sunderland or Newcastle but it now looks like Steve McClaren’s side are in the driving seat.