But Jose Mourinho also seems to have the 33-year-old in his sights and that could see the centre-back snub St James's Park for Chelsea's Stamford Bridge.
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Cannavaro has been told he can leave Real Madrid less than 12 months after joining from Juventus in a £13.5m move.
Madrid have already signed two centre-backs this summer (Christoph Metzelder from Borussia Dortmund and Pepe from Porto for £19m).
He could return to Italy having already played for Napoli, Parma, Inter Milan and Juventus, he has a massive reputation in Serie A.
Cannavaro is the reigning European Footballer of the Year and Fifa World Player of the Year.