Although the Dutch club wanted him on loan, they have confirmed that talks over a move for Newcastle have ended without a deal.
PSV wanted to sign the 28-year-old Spaniard until the end of the season and Luque - out of favour at St James' Park - was also keen on the move, but Newcastle have rejected PSV's offer. PSV wanted Newcastle to pay half his wages, which was knocked back straight away.
PSV coach Ronald Koeman wanted the Spaniard, saying it was a change to rebuild his career, but Newcastle feel the offer was a joke. Not only did they want a £9m player for nothing ... but to ask Newcastle to pay half his wages was laughed out of court.