The Magpies have already snapped up midfielders Henri Saivet and Jonjo Shelvey from Bordeaux and Swnasea City respectively, whilst a deal for Andros Townsend is on the verge of completion.
As reported by BBC Sport, Newcastle have agreed a £12m deal to sign the Tottenham winger, and the deal is expected to be completed imminently.
However, Newcastle may not be finished just yet, as manager Steve McClaren still needs to bring in a new striker to help solve the Magpies' striking problems.
The Daily Mail report that Newcastle want to re-sign Chelsea striker Loic Remy, who hit 14 goals in 27 games during a loan spell at St. James' Park during the 2013/14 season.
The French striker, 29, has been a bit-part player at Chelsea, and will be looking to play first-team football during the second half of the season in order to make a last, desperate attempt to get into the France squad for this summer's European Championships
A move back to Newcastle could be ideal for Remy, who was superb during his time with the Magpies, but it's stated that Chelsea have told McClaren's men to pay £12m in order to sign him.
With £12m being spent on Townsend, it will now be interesting to see whether Newcastle fork out another big fee for Remy, who can certainly score the goals to fire the Magpies to safety.
Would you spend £12m to bring Remy to Newcastle?