It also means that the Toffees could consider potential bids for Bolasie amid interest from their Premier League rivals.
Marcel Brands intends to get rid of a number of players to reduce the squad size for new manager Marco Silva to work with.
The report added that Everton could listen to offers for the 29-year-old if the money is right.
Newcastle will be looking to bolster their attacking department in the summer and a player of Bolasie’s quality could be a major threat.
The wide winger has a wealth of Premier League experience and his technical abilities make him a huge threat for defenders across the league.
Newcastle fans have taken to social networking site Twitter to express their reaction, and they believe he will be a great signing for the club.
Fantastic player who will be a valuable asset to your club, pass this on to Mr Ashley please cheers x
— Mike ?? (@MikeHEFC) June 7, 2018
Please be true
— David 1878 (@davidjbricey) June 7, 2018
I like Bolasie ?good signing if we can get him.
— Swampy⚽NUFC⚽⬛⬜⬛⬜ (@swampthing_71) June 7, 2018
— Luke Davis (@LukeMDavis97) June 7, 2018
I’ll drive him there myself
— Steviemac (@steviemac2010) June 7, 2018
I love this guy!This Guy is superB
— MoLuvNUFC (@FunkyGermo) June 7, 2018