West Ham were linked with a move for the 27-year-old midfielder earlier this week, and they are considering making a move for him, especially with Jesse Lingard seemingly set to stay at Manchester United.
A report from The Express & Star has claimed that Chelsea want as much as £30 million for him this summer, which could prove to be too much for a player that has struggled for a consistent run of form for some seasons now.
Barkley has had plenty of setbacks in terms of regular first-team action over at Chelsea in recent seasons, with the several changes in managers not allowing him to find his place in the side.
Last season, he was sent out on loan to Aston Villa, and while he showed glimpses of the quality that made Chelsea buy him for £15 million back in 2018, the move was relatively underwhelming, and Villa will most likely not pursue the prospect of making the deal permanent this summer.
He managed three goals and just one assist in 24 Premier League appearances for Villa, and during the latter stages of the season he often came off the bench rather than start games.
Newcastle need more options in attacking midfield, with Miguel Almiron their only real option in the position, and while they might see Barkley as potentially having the same impact that Willock had in the second-half of last season, the fact that they could be set to spend so much money to sign him could lead to more problems than genuine benefits.
Barkley is still under contract with Chelsea until June 2023, and with them hoping to sign a top striker in the shape of Erling Haaland in the future, they need to raise as many funds as possible from players that are surplus to requirements.