The Queens Park Rangers striker could reportedly be available for a lower price.
And the St James' Park outfit were told £13 million will be enough to land the 26-year-old - if the club can pay the whole fee up front.
Several clubs have been accredited with interest for Austin but, according to this report, the competition for the QPR strikers' signature is dwindling.
Austin played in the west London side's Championship opener at Charlton Athletic but saw Chris Ramsey's men lose 2-0.
What are the odds?
According to Sky Bet, Newcastle aren't favourites to sign Austin, with previous favourites Everton also ahead of them with the bookies. The Magpies' odds are 5/1, while they already have Aleksandar Mitrovic, Ayoze Perez and Papiss Cisse.
Many, meanwhile, feel the Newcastle - Austin speculation is all media-driven. But the Mirror are adamant Steve McClaren and co remain interested in the QPR striker - and could now get their man for a reduced £13m.
And, whether the destination is Tyneside or elsewhere, the forward looks as though he won't be playing his football at Loftus Road beyond the current transfer window.