At £12million that would, incredibly, be their sixth addition of this month’s transfer window.
Newcastle face a race against time to complete the signing of the 24-year-old who is playing for the Ivory Coast at the African Cup of Nations in South Africa.
If successful, it could be the biggest deal of the transfer window.
Vitesse Arnhem have said Bony can leave on the right terms, although the move may have to wait until the summer. Bony is top-scorer in the Dutch Eredivisie with 16 goals in 18 games.
Like Bony, Newcastle’s other signings this window – right-back Mathieu Debuchy, striker Yoann Gouffran, midfielder Moussa Sissoko and defenders Massadio Haidara and Mapou Yanga-Mbiwa – are French-speaking.