Saivet has managed just 147 minutes of football in all competitions since his £5m move in January from Bordeaux.
Marseille were said to be interested in Saivet, but Ligue 1 sides AS Saint-Etienne and Nantes have also entered the race.
French newspaper L’Equipe on Sunday reported AS Saint-Etienne are interested in signing the Senegalese midfielder on loan with an option to buy, but expect Newcastle to pay half of Saivet’s wages, which stands at around €200,000/month.
The rumour has been confirmed by Roland Romeyer, vice-president of AS Saint-Etienne, to French newspaper Progrès (via Le 10 Sport) on Monday.
He said:”Saivet is on our shortlist.”
Now, it remains to be seen if AS Saint-Etienne can beat competition from Marseille and Nantes to complete the signing of the former Bordeaux star.
