Villarreal head coach Unai Emery is the leading candidate to take over as Newcastle manager.
The new owners hope that they can appoint the former Arsenal boss before Saturday's game against Brighton.
But there is still work to be done on a deal with the 49-year-old, who is contracted to the Spanish club until 2023 and won the Europa League with them last season.
Newcastle has also held talks with former Bournemouth boss Eddie Howe and former Roma manager Paulo Fonseca.
Emery will lead Villarreal against Young Boys in Champions League Group F on Tuesday evening, and in Monday's pre-match press conference said he did not know anything about links with Newcastle.
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