The former England boss, who held the position at St James' Park, from 2007 until 2008, was under consideration to replace Rafael Benitez, who left the club at the end of June.
Newcastle would have to pay over £5 million to land Steve Bruce as their new manager from Sheffield Wednesday, according to a report by the Times.
"Well they should be anxious as he is a Geordie boy and if he gets the chance to go to Newcastle and Sheffield Wednesday don't stop him, I think he will jump at the chance", said Allardyce on talkSPORT (6:25am, Thursday, July 11th).
But with Bruce seemingly set on managing the Magpies, an opportunity he might never get again, Chansiri is at risk of souring his relationship with the popular Sheffield Wednesday boss, should he get him to stay put.
Newcastle hope to iron out the remaining details as quickly as possible and will endeavour to ensure Bruce is able to meet the players for the first time in China next week.
Multi-millionaire Jeffrey Epstein charged with sex trafficking
Former President Bill Clinton praised his intellect and philanthropic efforts and was a frequent flyer aboard his private jet. Epstein's lawyer Roy Black filed a response late Monday in a case involving a violation of the Crime Victims' Rights Act.
Gatwick Airport suspends all flights
Twenty-eight flights were cancelled and 26 diverted to other airports after the air traffic control problems on Wednesday . Gatwick Airport has suspended all flights this evening due to problems with air traffic control .
Kangana Ranaut has been asked to apologise after insulting a reporter
When the ugly fight took place, it was evident that things would turn sour and the movie's publicity might have to be compromised. Following this, a group of journalists was to meet Ekta Kapoor on Tuesday to demand an apology from Kangana.
"I must say that I have had more meetings with the chairman, president and general manager this week than I had in three years at Newcastle".
It is reported in The Star that the Newcastle born manager (58), will be offered a Premier League salary along with a £60m war-chest in order to try and build a squad capable of being competitive in The Premier League next season.
"It wasn't something I thought about for too long".
"I never got to talk to Mike", added Allardyce, whose last managerial post in the Premier League was at Everton. "We're in pre-season now and they're back in training".
But the 58-year-old wants the job and feels he can not resist the lure of the challenge on Tyneside.