The French ace has been linked with the Red Devils over the course of the past few months after emerging as one of Ligue 1’s top creative talents.
However, the Magpies have made the first move for the 23-year-old by contacted his club to thrash out a January switch.
Montpellier’s outspoken president Louis Nicollin has already declared that the playmaker will be sold if a £14m offer is received, but it is thought that a significantly lower bid could also be successful due to the club’s financial concerns.
Cabella has already netted six goals in 18 games this season, but is more famed for his fine range of passing skills.
Newcastle may follow up a move for the playmaker by refreshing their interest in Lyon’s Bafetimbi Gomis.
The Lyon striker came close to joining the ‘Toon’ during the last window, only for the deal to collapse late on.
With the burly forward’s contract due to expire at the end of the season, a cut-price move is a possibility.