The Magpies parted company with Alan Pardew a few weeks ago, but a replacement for the now Crystal Palace boss – who has won all three of his games at the helm of the Eagles so far – is not yet in place.
John Carver is currently the Magpies’ caretaker chief, and there have been links with a host of coaches from both within the Premier League and abroad.
The latest name to have been put in the mix is former Real Madrid gaffer Bernd Schuster, however reports suggest that Newcastle have dismissed such rumours.
Instead, the ‘Toon’ are prepared to wait it out in a bid to lure McClaren away from Pride Park.
The former England boss has rebuilt his reputation after a disastrous spell in charge of England – the Three Lion missed out on a spot at EURO 2008 under his control – with respectable spells in the Netherlands and Germany, and is now impressing at Derby.
McClaren is keen to stay with the Rams until at least the end of the season, though, with a promotion push his aim after last season’s play-off final heartbreak.
The Derby chief’s relationship with Newcastle scout Graham Carr may lure him to Tyneside.