The West Brom striker has been linked with both - but Newcastle can give him something Tottenham can't.
Tottenham have long been linked with the 22-year-old West Brom forward and are reportedly still in the market for him.
The Daily Mail, meanwhile, suggest Newcastle have a club-record £18 million bid on the table - with Mike Ashley willing to spend big on Berahino.
Indeed, Newcastle need goals and won't be spending big money on a forward without giving him the chance to get them. That means game time.
At Tottenham, Berahino would be a back-up - and that much has been clear from the start. Yes, the 22-year-old still seems like he has wanted leave the Baggies for White Hart Lane all along but matches would be more at a premium in north London.
He could get games out wide but, even there, Tottenham have plenty of competition, while Harry Kane is the main man up front.
Of course, Spurs can boast the fact they are a bigger club and not in danger of relegation. But, if Newcastle offer Berahino a good deal, he'll still be on very good financial terms in the Championship - and getting plenty of game time.