The Magpies are now the wealthiest club in the world after Amanda Staveley, Mehrdad Ghodoussi and the Saudi Public Investment Fund bought out Mike Ashley.
The new owners are looking to strengthen their squad and have identified Werner as a potential target for the January transfer window.
Chelsea signed Werner in June 2020 for £48m. However, the 25-year-old has failed to replicate the same form he showed at RB Leipzig.
During his first season at the club, Werner scored just six times.
As a result, the Blues decided to bring back Romelu Lukaku in a club-record £97.5m deal this summer. The move has seen Werner fall further down the pecking order.
Newcastle are hoping to capitalise on the situation and believe they can lure Werner to the club with the prospect of him becoming their main-man.
Werner is reportedly open to a move if he continues to be overlooked at Stamford Bridge.
