During the 2021/22 season, the 26-year-old winger played 42 times for Los Blancos across all competitions, contributing two assists and scoring 12 goals, but struggled to nail down a regular spot in the side.
Asensio has been linked with a possible exit from Real Madrid, with both Newcastle and AC Milan claimed to be keen.
It had been suggested that the Magpies made a bid in the region of £20m for the Spaniard, which was rejected by Los Blancos.
However, according to Spanish radio station Cadena SER, despite the interest in the winger, Eddie Howe’s side have yet to go beyond informal conversations with Asensio’s agent Jorge Mendes.
Howe wants to strengthen Newcastle’s attacking department and so far this summer has faced disappointment.
Allan Saint-Maximin was Newcastle’s star performer in the attacking department last season, with five goals and five assists to his name, and no other player provided more goal contributions for the Magpies than him in the last campaign.
With Newcastle yet to go beyond speaking to Asensio’s agent, the jury is out on whether they will make a serious move to sign him.
