The club were rocked to find out that Steven Taylor would be likely to miss the remainder of the season after he undergoes surgery on the Achilles he injured in the 3-0 loss against Chelsea in early December.
The Magpies defence has been one of the most consistent aspects of the side who got off to an overwhelmingly good start to the season that saw them enjoy an unbeaten run of eleven Premier League games.
The central defender functioned effortlessly with namesake Ryan Taylor, Danny Simpson and fellow centre-back Fabricio Coloccini.
However, the long-term injury means that manager Alan Pardew is likely to splash the cash on his defensive in the New Year as he looks to maintain the side’s fantastic start.
Cahill is in the last year of his contract at the Reebok Stadium and is being linked with the likes of Manchester United, Tottenham and Arsenal.
As a result, the defender could be available for the measly sum of £7m, as the Wanderers look to cash in on their prized asset before losing him on a free in the summer.
PSV Eindhoven left-back, Erik Pieters, is a Dutch international who was associated with a move to St. James’ Park over the summer, however a move never materialised due to some unfortunate family issues surrounding the defender.
Despite being only 23 years-old, Pieters has already featured for Oranje on 14 occasions after ascending through the nation’s youth system.
The full-back has also racked up an impressive 84 appearances for PSV after joing from FC Utrecht in 2008 at the age of 19.
Cahill could provide a valuable cut-price asset as he looks to maintain his place in the England squad ahead of Euro 2012, along with Pieters who has made an exciting start to his international career.
It’s expected that the Tynesiders would have to pay no more than £15m for the pair, however that figure could rise if a bidding war ignites around Cahill.