Miguel Almiron and Lloyd Kelly are due Carabao Cup winner medals.
Both players featured in the run to the final, before leaving Newcastle United in January.
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Almiron left the Toon for Atlanta United, while defender Kelly joined Juventus on-loan with an option to buy.
The Daily Mail says the pair are eligible for winner medals, with Newcastle handed 30 by the Football League after their victory over Liverpool on Sunday.
Newcastle used 24 players over the campaign, with Matt Targett and Sean Neave on the bench for the final, though neither featured in any of the previous Cup ties.