It has been a turbulent window at St James' Park, where Sandro Tonali has already left for Tottenham and Anthony Gordon completed a switch to Barcelona, with the pair generating around £170m for the Magpies between them. Arsenal are separately pursuing captain Bruno Guimaraes, leaving Eddie Howe facing what may be the toughest rebuilding job of his time in charge.
Murphy, 31, has spent nine years on Tyneside since arriving from Norwich for around £12m, and despite being born in Wembley he grew up supporting the club he has gone on to serve with distinction. Sky Sports report that Everton have yet to table a formal offer, with Murphy just one of several forward options under consideration at Goodison Park as Moyes looks to freshen up his attacking options.
The winger has barely missed a beat during the Howe era, racking up 225 appearances and 25 goals for the Magpies, a tally that includes a memorable brace in a 6-1 demolition of Tottenham back in 2023. He also played his part in ending Newcastle's 70-year wait for a trophy, featuring as the club lifted the Carabao Cup in 2025.
With only 12 months left to run on his contract, Newcastle United face a decision on whether to cash in now or risk losing a popular squad member for nothing next summer.
Everton, for their part, are also weighing a permanent deal for Jack Grealish following his impressive loan spell, suggesting Moyes is prepared to build his forward line around experienced, proven Premier League performers rather than gamble on unproven talent as he plots a return to form after last season's struggles.
For Newcastle, the situation adds to a summer already defined by outgoings rather than reinforcements. Howe has previously spoken warmly of Murphy's professionalism and versatility, qualities that would appeal to a manager like Moyes who values reliability over flair.
Whether the Magpies sanction a sale may hinge on how quickly they can identify a replacement, with the club already having strengthened out wide following Gordon's exit.