The Magpies have been linked with possible moves for the likes of Jesse Lingard, Philippe Coutinho and Dean Henderson, but instead it's claimed the club's Saudi owners will look to the Italian top flight to bolster new manager Eddie Howe's squad.
The Saudi Arabia's Public Investment Fund (PIF) own 80 per cent of the club, having replaced Mike Ashley after serving as club's owner for 14 years.
Since the takeover, Newcastle have taken a different approach on identifying talents' to help take the club forward.
Various reports have linked with Magpies with a list of big-name talent, but it's claimed new club chiefs will take a more measured approach to improving the sqad.
According to The Times, Newcastle are hopeful of signing Dutch centre-back Stefan de Vrij and Croatian midfielder Marcelo Brozovic in a double swoop from Serie A champions Inter Milan.
England goalkeeper Henderson has been linked with a move to St James' Park, with the 24-year-old reportedly unhappy over his lack of first-team opportunities at Manchester United and keen to leave.
But it is claimed Tyneside transfer bosses have identified Lazio glovesman Thomas Strakosha as their possible new No.1, and plan to sign all three players from the Italian top flight in the January transfer window.
The Premier League outfit have kept a close eye on Serie A sides' Inter Milan, AC Milan, Lazio and Juventus since the club's takeover, say The Times.
The Magpies only signed Joe Willock for £25million from Arsenal last summer, although have spent £80m on players in recent seasons - including Joelinton, Miguel Almiron and current star man and fan favourite Allan Saint-Maximin.
Eddie Howe has been appointed as Newcastle manager and will take charge of his first game against Brentford at St James' Park on Saturday.
And the former Bournemouth boss has quite a task on his hands to turn things around on Tyneside, with Newcastle failing to record a single victory in all competitions so far this season.