The Spain international striker, £9million flop from Deportivo La Coruna in the summer of 2005, could be on his way to Holland.
According to The Newcastle Chronicle, Luque is the target of PSV Eindhoven, who are looking for a final piece of their championship jigsaw. Apparently PSV have told Newcastle that they are prepared to take the 28-year-old striker on loan for the next 18 months, and a decision will be made in the next few days.
Luque is on £40,000-per-week wages, and deal like the Patrick Kluivert loan transfer a while ago, could be struck. With Newcastle paying part of his wages.
A source in Holland told the paper: "PSV's interest in Luque has really come out of the blue, but Ronald Koeman is convinced he can get the best out of him.
"PSV have informed United of their interest and the player is also aware of the situation. Now the ball is very much in Newcastle's court."