Former Blue Darren Ambrose is set to join Charlton after Newcastle accepted a bid for the midfielder. Ambrose's best friend Darren Bent joined the London side from Town for £2.5 million earlier in the summer.
Newcastle chairman Freddy Shepherd says Alan Curbishley's side have come in with an acceptable bid: "Charlton have made an offer that matches our valuation of the player.
"We have given Darren permission to speak to Charlton to discuss a possible move."
Reports earlier in the summer suggested a fee of £1.5 million would be enough to take the England U21 international from St James' Park.
Ambrose joined Newcastle from Town for £1 million in March 2003 during the club's administration. Administrators Deloitte and Touche agreed the deal which included no sell-on clause.
The 21-year-old, whose first team opportunities have been limited with the Magpies, will also be reunited with former Town men Matt Holland and Hermann Hreidarsson at the Valley.