Delap, 23, joined Chelsea last summer from Ipswich Town following a strong season despite relegation, chosen over Newcastle United in part because of the prospect of Champions League football.
The move has not delivered. Hampered by injury across the campaign, he scored just two goals and registered four assists in 41 appearances, largely unable to dislodge Joao Pedro as the preferred centre-forward under a series of managers.
With incoming manager Xabi Alonso now shaping the squad, Chelsea are prepared to sanction departures. Delap's name is among those the club's sporting leadership is prepared to move on, though they are not willing to accept a significant loss on a player under contract until 2031.
Newcastle United's interest has not cooled despite their failure to sign him twelve months ago. The Magpies lost out not only on Delap but also on Joao Pedro during the same window and have since struggled for goals from their forward line.
Nick Woltemade and Yoane Wissa both underperformed expectations in their debut Premier League seasons, and the club recognise they need a more clinical option alongside Alexander Isak.
Chelsea have explored the possibility of using Delap as a bargaining chip in a swap involving Newcastle's German striker Nick Woltemade.
Per journalist Simon Phillips, Chelsea enquired about Woltemade when Newcastle first opened talks over Delap, and Newcastle's response to the proposed exchange was described as more considered than a flat rejection. Whether that route gains traction will depend on how both clubs value their respective players in the opening weeks of the window.
Delap's profile remains appealing to the Magpies — he is English, 23, physically powerful and proven as a consistent scorer in competitive league football, even if his Chelsea season raised questions about fit and system. Those doubts do not appear to have dimmed Newcastle's conviction that he can perform at the level they need.