Magpies boss Eddie Howe is keen on landing a left-back this summer and the club have been linked with a host of players for the position.
Chelsea’s 18-year-old Hall has caught Newcastle’s attention and he is top of their transfer wish list.
Hall is highly rated at Chelsea and the club offered him a new six-year contract in the ongoing window.
But Newcastle opened negotiations for the young left-back and Chelsea want a fee in the region of £30m for Hall.
However, it has been claimed that Newcastle have now agreed an initial fee of £28m with Chelsea for the youngster’s services.
Hall is a product of Chelsea’s academy and the 18-year-old made nine appearances for the club last season.
Now it remains to be seen whether Newcastle will be able to complete the deal for the teenager before their next game against Manchester City on Saturday.