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Newcastle plan to block Kieran Trippier and Callum Wilson from leaving in January.
Trippier had become a shock target for Bayern Munich in January to join Harry Kane and Eric Dier at the Bundesliga club.
Trippier has become a shock target for Bayern MunichCredit: GettytalkSPORT understands that the England full-back was open to the move, while the two clubs are understood to have had talks.
Atletico Madrid also made a surprise enquiry for Magpies striker Wilson, although they are not expected to firm up their interest.
Newcastle's stance, however, is that the pair are not for sale this month.
Eddie Howe's side are under pressure to sell in order to raise funds for signings.
Since their Saudi Arabia takeover, the Magpies have been very careful to make sure they do not breach Financial Fair Play [FFP] rules and invite any unwanted scrutiny.
Howe will face difficulties in replenishing his injury-hit squad in January and could be forced to sell some of his key men in the summer.
Aside from Trippier and Wilson, midfielder Bruno Guimaraes, who has a £100million release clause in his contract, defender Sven Botman and striker Alexander Isak are the club’s most sellable assets.
They would not be short of suitors not just in the Premier League but among Europe’s elite clubs.
Howe may have to sell his prized assetsCredit: AFPHowe's side have slipped down to 10th in the Premier League following a run of poor results, while they also made early exits from the Champions League and Carabao Cup.