 Ferguson has battled back after ankle surgery in the summer
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Newcastle boss Joe Kinnear says he is interested in signing Scotland and Rangers captain Barry Ferguson.
Kinnear admits he may have to sell before he can buy but confirmed: "I have enquired about Ferguson, but we will wait and see what the outcome is.
"We are finding it difficult to bring certain players from clubs. Our bids haven't been accepted so far."
Newcastle have also been linked with Ferguson's team-mate at Ibrox, Algerian defender Madjid Bougherra.
The 25-year-old centre-half is the subject of growing transfer speculation, with the Magpies reportedly preparing a £4.5m bid.
On Friday Rangers manager Walter Smith said the club had yet to receive any enquiries for either Ferguson or Bougherra.
Midfielder Ferguson, 30, rejoined Rangers just before the close of the transfer window in January 2005 for £4.5m after a 16-month spell in the Premier League with Blackburn Rovers.
Kinnear admits he is targeting at least five additions this month, perhaps some of them on loan, to cover the deficiencies of a squad hit by 10 injuries, six of them long-term.
"The problem is two or three clubs are in for the same players," Kinnear added.
"At the moment, there could be teams bidding more than us.
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"It would help if I could move some of the players here and get the finances in that way. But we have had no bids for them."
He added: "The January transfer window is hardly ideal. We have a lot of players missing at the moment who are out for six weeks or more.
"That means it's tough. If we pick up more injuries, we are in trouble for West Ham next week.
"We really need to get some bodies in. We need versatile players who can play in a number of positions. We have got injuries all over the pitch. But we have to grin and bare it."
Bougherra, meanwhile, has struck up a productive partnership with veteran David Weir in the heart of the Rangers defence since his summer switch from Charlton.
And Weir admits he is keen to see to see his team-mate stay at Ibrox.
"Madjid has done very well for us and we have missed him in the last few weeks when he has been injured," Weir said.
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