Report: Cabaye heading to PSG
The Magpies rejected a £14 million bid from PSG on Sunday, but the French club's most recent offer is believed to be significantly higher.
Speculation has been rife that France international Cabaye would be leaving St. James' Park during this transfer window with Manchester United also believed to be interested in the player.
Earlier on Monday, Newcastle boss Alan Pardew admitted he was worried that he would lose the 28-year-old, who has scored seven goals in 20 appearances for United this season.
Asked if he was confident Cabaye would remain a Newcastle player after Friday's 11pm deadline, Pardew evoked the situation in 2011 when the club sold striker Andy Carroll to Liverpool for £35 million late in the window.
"You are talking to someone who lost Andy Carroll with eight hours to go, so am I confident? No, I'm not confident and I don't think any team not in a Champions League position or fighting for a Champions League position could be," said Pardew.
"We lost a massive part of a team that wasn't safe. We didn't have 36 points when we lost Andy Carroll, so it was a hell of a blow.
"I still maintain that was one of my best periods as a manager at this football club, getting us safe that year, so in terms of my mentality, I'm just strong about it.
"I am strong whatever happens. I am the manager and I have got to deal with it.
"I don't want him (Cabaye) to go. We have not indicated for one moment here from the owner down to any of my staff that we want him to go, not one iota."
Pardew added: "We know we have got a club interested in Cabaye, a very wealthy club and a powerful club, and we are conscious of that. We are doing our best to protect Newcastle."
Cabaye joined Newcastle from Lille in July 2011 and has made 93 appearances for the club, scoring 18 goals.
He has 26 caps for France and represented them at the European Championship in Ukraine and Poland in 2012.