The 23-year-old made the high-profile switch from Everton to the Magpies during the January transfer window of 2023 for a fee in the region of £45m.
Since then, Gordon has established himself as a key first-team player on the flanks for the North-East giants, appearing in 70 matches across all competitions.
The winger enjoyed his best-ever goalscoring term during 2023-24, netting 11 in the Premier League, earning him a place in Gareth Southgate's England squad at Euro 2024.
In disappointing circumstances for many supporters, Gordon received little game time at the continental tournament, playing just a single minute over the seven-match competition for the Three Lions.
Arsenal, Liverpool suffer blow in Gordon race?
According to talkSPORT, there is set to be another major twist in the long-term future of Newcastle star Gordon before the January transfer window.
The report claims that the Magpies are confident of agreeing a new contract for the 23-year-old St James' Park, committing his future to Eddie Howe's troops.
It is understood that Newcastle wanted to tie Gordon down on fresh terms as early as July, whilst the attacker was still on duty for England in Germany.
However, with that window of opportunity passing, it is stated that the Magpies want to get the deal sorted before the start of the New Year trading point.
News of such developments will come as a bitter blow to both Liverpool and Arsenal, who have been linked with moves for Gordon so far this calendar year.
Liverpool's failed move for Gordon
During June, Newcastle were desperate to offload players in order to avoid breaching the Premier League's Profit and Sustainability rules.
It is believed that the Magpies and Liverpool had agreed a £70m deal for Gordon's switch to Anfield, however there was a last-minute change of heart from the selling club.
With Newcastle able to offload Yankuba Minteh and Elliot Anderson to Brighton & Hove Albion and Nottingham Forest respectively, Howe's side were not longer required to sell Gordon.
Liverpool are clearly taking notice of Gordon's contract situation at St James' Park, with the Reds supposedly willing to offer Luis Diaz a new contract following Arne Slot's approval.