It is understood the prospect of Champions League football is one aspect of the move that would appeal to Cabaye, and it seems it was the Frenchman who asked to miss last night's fixture against Man City.
Although Newcastle have no wish or desire to sell Cabaye, but just as with the transfer of Andy Carroll, Mike Ashley would listen to any realistic bid.
Sky sources understand that Arsenal would need to offer between £18-20million before Newcastle would be tempted to do business.
Pardew is keen for the Magpies to move on after the 4-0 hammering at the Etihad Stadium on Monday night.
Alan Pardew: "I would rather focus on what for us has been a tough day.
"We have 37 games to go and we need to make sure we don't let this game emotionally scar us.
"I think there are going to be a lot of teams who will struggle here. They have got some fantastic talent.
"When you get the options that they have and look at them on the bench, let's be honest these teams - in terms of finance and quality - make it very, very difficult for the rest of us in the Premier League.
"That was a case in point. There will be better teams than us struggle at this ground, for sure."
Newcastle United Fixtures ...
Saturday August 24
15:00 Premier League Newcastle United v West Ham United
Wednesday August 28
19:45 League Cup - 2nd Rnd Morecambe v Newcastle United *Sky Sports
Saturday August 31
15:00 Premier League Newcastle United v Fulham
Saturday September 14
15:00 Premier League Aston Villa v Newcastle United
Saturday September 21
15:00 Premier League Newcastle United v
Hull City
Monday September 30
20:00 Premier League Everton v Newcastle United *Sky Sports
Premier League fixtures ...
Wednesday August 21
19:45 Chelsea v Aston Villa
Saturday August 24
12:45 Fulham v Arsenal
15:00 Everton v West Brom
15:00 Hull City v Norwich City
15:00 Newcastle United v West Ham United
15:00 Southampton v Sunderland
15:00 Stoke City v Crystal Palace
17:30 Aston Villa v Liverpool
Sunday August 25
16:00 Cardiff City v Manchester City
16:00 Tottenham v Swansea City
Monday August 26
20:00 Man Utd v Chelsea
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Squad Numbers ...
1 Krul, Timothy Michael
2 Coloccini, Fabricio
3 Santon, Davide
4 Cabaye, Yohan
6 Williamson, Michael James
7 Sissoko, Moussa
8 Anita, Vurnon San Benito
9 Cisse, Papiss Demba
10 Ben Arfa, Hatem
11 Gouffran, Yoan
13 Yanga-Mbiwa, Mapou
14 Remy, Loic
15 Gosling, Daniel
16 Taylor, Ryan Anthony
17 Amalfitano, Romain
18 Gutierrez, Jonas Manuel
19 Haidara, Massadio
20 Bigirimana, Gael
21 Elliot, Robert
22 Marveaux, Sylvain
23 Ameobi, Foluwashola
24 Tiote, Cheik Ismael
25 Obertan, Gabriel Antoine
26 Debuchy, Mathieu
27 Taylor, Steven Vincent
28 Ameobi, Samuel
29 Vuckic, Haris
33 Good, Curtis
34 Tavernier, James Henry
36 Dummett, Paul
41 Newton, Conor
42 Alnwick, Jak
44 Streete, Remie
49 Campbell, Adam