The 35-year-old has scored 28 goals in 29 Serie A matches so far in 2019/20 but he reportedly unhappy with how things are progressing at the Bianconeri under Coach Maurizio Sarri and he might be tempted into having a second spell in the Premier League.
According to Don Balon, Ronaldo would consider a two-year contract with Newcastle if they can match his earnings at Juventus.
A consortium from Saudi Arabia including Crown Prince Mohammed bin Salman have plans to acquire the Magpies but a variety of issues including television rights in the Middle Eastern kingdom have prevented the takeover from being completed.
If a deal can be completed though, then Newcastle would boast enough financial clout to buy the Portuguese forward.
Cristiano Ronaldo previously had a spell in England with Manchester United from 2003 until 2009 and he won the 2008 Champions League with the Red Devils.