And the Magpies might also be getting rid of manager Steve Bruce who has been tipped to become the first casualty of a new era at St James' Park.
Newcastle are winless this season with their latest defeat to Wolves dropping them into the relegation zone.
Bruce has been unpopular on Tyneside ever since his 2019 appointment, even amid more positive results last season.
The former Sunderland boss insisted he will never walk away from Newcastle in response to talkSPORT's Simon Jordan telling him to quit.
But Bruce may no longer have a choice, with Eddie Howe the current favourite to succeed the 60-year-old at 7/2.
Howe remains a free agent after leaving Bournemouth last year and he has been linked with the replacing Nuno Espirito Santo at Tottenham.
Antonio Conte is among the other leading contenders to succeed Bruce, with another former Chelsea gaffer Frank Lampard also in the mix.
Newcastle assistant Graeme Jones has been tipped to become the main man as well while Alan Shearer could be set for a fairy-tale return to the club.
Here's the list of the top contenders in full, according to BetVictor.
Eddie Howe - 7/2
Antonio Conte - 6/1
Chris Wilder - 8/1
Roberto Martinez - 12/1
Frank Lampard - 12/1
Graeme Jones - 12/1
Alan Shearer - 14/1
Kevin Keegan - 12/1
Julen Lopetegui - 16/1
Jose Mourinho - 16/1
Rafael Benitez - 20/1
Unai Emery - 20/1
Julian Nagelsmann - 25/1
Laurent Blanc - 25/1
Steven Gerrard - 25/1
Bruce, a boyhood Toon fan, claimed last month that he has no intention of taking advice to quit Newcastle.
When asked about Jordan's comments telling him to walk away from the club, the Magpies boss delivered a defiant response.
Bruce said: "I understand where Simon is coming from, but I never really thought about it then.
"I never thought just because it's tough here, I'm going to walk away."
He added: "I believe with the experience that I've got that I can try and help the club. A lot of people will find that laughable - I understand.
"But that's what I genuinely believe. I hope that my experience can see us through."