Newcastle were interested in Tammy Abraham during the summer transfer window.
The Chronicle quoted Toon manager Rafa Benitez in November as saying that Newcastle could have signed the 20-year-old, but the English striker opted to join Swansea instead.
Now, the striker is likely to be ruing his decision with Newcastle desperately needing a striker, as he remains a fringe player at the Liberty Stadium under new manager Leon Britton.
Former Celtic and Chelsea star Cascarino believes Abraham made the wrong decision to join Swansea over Newcastle, after failing to start in Swansea's dismal 5-0 loss to Liverpool on Boxing Day.
"Tammy Abraham made a bad call picking Swansea City over Newcastle United or Brighton & Hove Albion," Cascarino claimed.
"He’s stuck on the bench for a side who don’t create enough chances. After a good season at Bristol City with 26 goals he needed a club where he could showcase his ability."
Newcastle instead signed Joselu in the summer, but the Spaniard has flopped since his move to the north east with just three goals in 18 league and cup appearances for Benitez's side.
Despite starting just 13 Premier League matches this season, two-time England international Abraham has scored four goals in England's top tier.
The Toon next face Manchester City on Wednesday evening, as they look to build on their impressive 3-2 win away at West Ham United last time out.