Ziyech is looking to make sure he is playing more regular football in the second half of the season and has been linked with a switch away from Chelsea.
Ajax have ruled out re-signing Ziyech, despite the player being keen on going to Amsterdam, while AC Milan have cooled their interest.
Newcastle have explored a move to sign Ziyech, but his wages are an issue as even a loan deal would see Chelsea wanting them to be covered in their entirety.
Howe does not want a mid-season signing coming in on a Champions League level wage to out-earn a host of players who have put Newcastle in contention for a top four finish.
Newcastle have a strict wage structure and are keen to tread carefully.
Ziyech has played just 245 minutes of Premier League football for Chelsea so far this season and is unhappy with the situation.
The Morocco international got ten minutes, on off the bench, in Chelsea’s 2-1 loss away at Fulham on Thursday evening.
