The Premier League champions have been widely linked with a move for Caballero in recent days, as Antonio Conte looks to replace second-choice Asmir Begovic.
After seeing his Manchester City contract expire, the Argentina international seemed set to stay in England by making that free transfer to the Blues.
However, with a move for Pepe Reina now looking unlikely, Newcastle have emerged as rivals for Caballero’s signature.
Rafa Benitez’s newly-promoted squad already boasts five goalkeepers, but the manager is set for an overhaul before trying to keep the North East giants in the top-flight.
Also mentioning Brighton & Hove Albion – who presumably enquired before signing Mathew Ryan this week – Adrian Faija told Goal: “We have some offers from England, he wants to stay in England.
“Newcastle is cold but pretty and the beaches in Brighton are beautiful as well and easily accessible from London. There isn’t an offer from Boca. To analyse it, first, we need an offer – it needs be real first.”
How did Caballero compare to Newcastle first-choice Karl Darlow this season?
Distribution accuracy – The former Manchester City man completed 79% of his attempted balls in the Premier League, to Darlow’s 60% in the Championship.
Claim success – Caballero lagged behind the 26-year-old in challenging for balls, though, with his 90% claim success being 8% inferior.
Saves per goal conceded – The uncapped Englishman also edged out this category, averaging 2.20 saves per goal to Caballero’s rate of 2.08.