Tottenham defender Stephen Carr is set to join Newcastle, BBC Radio Newcastle understands.
The Republic of Ireland international right-back has been a long-term target of Sir Bobby Robson.
Carr, 27, is out of contract at Spurs this summer, and has not reached any agreement with the London club where he has played for 12 years.
Newcastle sold Nolberto Solano to Aston Villa for £1.5m and Carl Cort to Wolves for £2m during the transfer window.
Tottenham insist they have had no enquiry from Newcastle about their captain.
"I certainly hope Stephen is interesting Newcastle," said acting manager David Pleat.
"I would hope he is interesting a few clubs, because I hope that when our team does well all our players interest other clubs with their performances.
"There has been nothing official at all - and all I know is what I have seen in the press.
"It is completely hypothetical, and if we were to receive a bid then we would react at the time according to what is said."
Hibernian have signed Newcastle's Scotland international defender Gary Caldwell until the end of the season.
The 21-year-old, who spent three months on loan at Hibs in 2002, negotiatiated an early release from Newcastle.