Magpies officials have held preliminary talks with Cardiff City and are hopeful of completing a deal for the striker, whose current contract is due to expire in the summer, at the start of next week.
Alan Pardew met the club’s owner, Mike Ashley, on Wednesday to discuss this month’s transfer dealings, and Bothroyd has emerged as a leading target.
The 28-year-old England international has turned down the offer of a new deal at the Cardiff City Stadium.
Cardiff officials have hinted they are prepared to agree a £2million deal for Bothroyd, who has emerged as one of the hottest properties in the Championship.
West Ham, Blackburn and Fulham have all been linked with a potential move for Bothroyd, but Newcastle lead the way.
Bothroyd has scored 13 goals in 17 league appearances during the current campaign, and made his full international debut as England suffered a 2-1 defeat to France in November.
If the deal goes ahead, it seems as though Pardew will try and off-load Leon Best, with a return to Coventry City the most likely option.