The Magpies made an attempt to sign Anthony Elanga from Nottingham Forest in the final stages of the summer market, but their offer, said to be worth a potential £50m, was rejected by the Reds.
According to CaughtOffside, Newcastle will reignite their interest in Elanga at the start of 2025, but if they are once again unsuccessful, then Eddie Howe's side could switch their attention to Antony.
The report claims that Man United would ask for around £40m for the Brazilian, and Howe is believed to be an admirer of the forward despite his struggles since arriving at Old Trafford during the summer of 2022.
Antony has recently been linked with a switch to Fenerbahce, with the Turkish transfer window not yet closed.
Newcastle 'eyeing' January move for Antony
Fenerbahce head coach Jose Mourinho is said to be keen on a deal, but the forward has allegedly made it clear that he wants to stay at Old Trafford to fight for his spot.
Antony has only made one appearance for the Red Devils this season, featuring as a late substitute against Brighton & Hove Albion on August 24.
A difficult 2023-24 campaign saw the South American only manage three goals and two assists in 38 appearances in all competitions.
However, he showed signs of his quality in 2022-23, contributing eight goals and three assists in 44 outings for Erik ten Hag's team following a big-money switch from Dutch football.
Is the deal a serious possibility?
There is no question that Antony is better than what he has shown at Man United, and he was regarded as one of the best young wingers in world football during his time at Ajax, but a switch to Old Trafford has not worked out.
Antony should receive plenty of action in the coming months due to Man United's busy schedule, which involves Europa League and EFL Cup football, but it is difficult to imagine him breaking into the Premier League side on a regular basis.
If Newcastle are prepared to take on his wages, which are said to be in the region of £200,000 a week, then a loan deal for the second half of the 2024-25 campaign would make sense for all involved.
The situation could then be addressed next summer, when the forward would only have two years left on his contract with the 20-time English champions.
Antony has made 83 appearances for Man United in all competitions, scoring 11 goals and registering five assists in the process, with his Premier League record standing at five goals and three assists in 55 outings.