Per The Mail, the Magpies are considering Vinai Venkatesham to become their new chief.
The 43-year-old worked with current chief commercial officer Peter Silverstone when they were at the Gunners.
The two get along very well, with Silverstone posting on LinkedIn when Venkatesham left Arsenal, stating: “Congratulations on an incredible career at Arsenal.
“Obviously I was extremely fortunate to spend seven years working alongside you and am extremely grateful for the opportunity you gave me, the incredible work we did together and areas where you helped me develop.
“Some great (and amusing) memories too. I know you'll continue to work like a maniac for the next year but I do hope you take some time to reflect and enjoy the last lap. See you soon.”