Bakayoko joined AC Milan on a two-year loan from Chelsea last summer, but the Rossoneri have been looking at ways to offload him ahead of time.
He is not part of their plans and the club have been in talks with his agents and Chelsea over finding a solution for the Frenchman.
Newcastle are now interested in the player and are keen to take him to St. James’ Park before Thursday’s transfer deadline, with Eddie Howe wanting another midfielder.
And according to Italian outlet Calciomercato.com, the Magpies have the edge in the race to sign him.
Newly-promoted Serie A side Monza have also been keeping tabs on him, but Newcastle are the ones who are now the favourites to sign Bakayoko.
His representatives will be in Italy, where they are expected to come to an agreement with AC Milan to terminate his loan contract.
Chelsea are also prepared to finish his loan early from their end and Newcastle are now expected to be his new home for the season.
