The dream Newcastle United and Chelsea swap deal that would work wonders for both sides

There was a buzz around Newcastle United supporters on social media earlier this week as they desperately cling to any hope Eddie Howe’s squad may be boosted before Thursday’s transfer deadline.

Magpies co-owner Amanda Staveley took to her Instagram account to post a photo of a room at Alnwick Castle - a site famous for being used in Harry Potter films - as the United hierarchy look to conjure up some belated transfer business in the final days of what has been a surprisingly quiet window.

Concerns over Premier League Profitability and Sustainability Rules (PSR) regulations have cast a spell over the vast majority of the clubs in the Premier League, with many left petrified they may fall foul of the authorities after watching the likes of Everton and Nottingham Forest charged for breaches in recent weeks. The Magpies, for all of the significant wealth on offer from their Saudi-led owners, stand at the brink of their PSR limits and that has explained why the transfer talk has surrounded high-profile arrivals, rather than the arrival of new faces at St. James' Park.

Howe admitted Newcastle had pulled away from a possible loan deal for Manchester City and England midfielder Kalvin Phillips after the treble winnings demanded a significant loan fee for the former Leeds United star. Phillips has since gone on to join West Ham United and that has left the Magpies to consider other options.

Kieran Trippier looks increasingly likely to remain at Newcastle after Bayern Munich’s interest in the England defender cooled in recent days and Howe stressed his determination to hold on to Paraguayan winger Miguel Almiron after was the subject of interest from Saudi Pro League club Al-Shabab over the last week.

Howe expressed similar feelings over the future of striker Callum Wilson, who has attracted interest from Atletico Madrid and AC Milan and has been linked with a move to Premier League rivals Manchester United and Chelsea over the last 48 hours. However, the Magpies boss also admitted ‘some things are out of his control’ and stressed he understands the United hierarchy are looking after the club’s long-term interests in every decision they make.

Speaking in his pre-match press conference ahead of Saturday’s FA Cup tie at Fulham, he said: "That's been a strange one because, again, there's been a lot of speculation regarding Callum and I've seen some of it. Probably not all of it, but I think a lot of it has been unfounded. From our side, Callum is a huge part of what we're doing.

“We're desperate to get our two strikers fit at the same time, which we haven't had for a long time now and that's hurt us in lots of different ways. He's nearing fitness, nearing a return and he's looked good. He's not trained with us yet, but he's getting there and there's no part of me that wants to lose Callum. But some things are out of my control and, of course, the club is acting within its long-term interests and it has to. I understand that and I'm fully supportive of it.”

Wilson will turn 32 next month, had not featured since a Boxing Day defeat against Nottingham Forest and will enter the final year of his current deal at Newcastle at the end of the season, all facts that could make allowing him to move on to pastures new before the end of the window a more appealing option than it once was.

As such, Chelsea’s reported interest could allow Newcastle to solve one major hole in their squad and bring a successful end to what is believed to be a long-term interest in one current member of Mauricio Pochettino’s squad. First linked with a move to Tyneside during Steve Bruce’s managerial reign, England midfielder Conor Gallagher is believed to remain on the Magpies radar as the widespread changes to the Blues squad continue to gather pace.

The 23-year-old has made 27 appearances in all competitions so far this season and has also captained the Blues on 15 occasions during the first half of the campaign. Yet speculation over his future has never been far from the headlines after the likes of Newcastle, Tottenham Hotspur, Bayern Munich and Everton were all named as possible suitors in recent months.

Gallagher was praised by Pochettino last month after the former Spurs manager described the midfielder as ‘fantastic for the team’ after earning a regular place in his starting eleven - but the Blues boss also seemed to hint any decision over his future would be ‘about the player and the club and what they decide to do’.

With Chelsea looking at boosting their options in the attacking third and already possessing a whole host of midfield options, could a potential part exchange deal that would take Wilson to Stamford Bridge and Gallagher to Newcastle work for both parties?

Gallagher’s work-rate, energy and intensity would fit into the Magpies midfield and would help Eddie Howe replace Joelinton after an operation on a thigh injury suffered in the recent FA Cup win at Sunderland ensured the Brazil international will remain out of action until May. Chelsea would get an experienced Premier League striker that has already proven he can find the net with regularity when provided with the correct service. In total, Wilson has scored 26 times in 56 appearances in all competitions since the start of last season and would provide competition for the existing frontmen in Pochettino's squad.

It would be a long shot, and Newcastle would almost certainly have to take the weight in a player plus cash deal, but it could be one creative deal that would work for both the Magpies and their Premier League rivals.