The Magpies have already signed Sandro Tonali and Harvey Barnes in the ongoing transfer window but are struggling with their financial fair play calculations.
They have sold Allan Saint-Maximin but Newcastle are looking to move on more players from their wage bill in the ongoing transfer window.
Hayden and Fraser are not part of Newcastle’s plans going forward but no concrete offers are on their table yet.
It has been claimed that tentative loan requests have been received by Newcastle for the duo.
The club are keen to move them on as soon as possible but for the moment, nothing is imminent.
Newcastle would likely have to contribute to their wages to loan the duo out before the end of the transfer window.
Hayden has three years left on his contract while Fraser has two years left to run on his Newcastle contract.