The former Leeds striker, speaking exclusively to Football Insider, insisted the Magpies are one of a few clubs worldwide who could match the 21-year-old’s wage demands.
As reported by ESPN (21st October), Haaland is expecting a deal worth £500,000-a-week to leave Dortmund.
The prolific hitman reportedly has a £63million (€75million) release clause that can be triggered next summer.
Manchester City, Manchester United and Chelsea are among Haalands reported suitors after his sensational performances in Germany.
Whelan admitted the transfer fee itself appears to leave the door open to any wealthy club to strike a deal.
However, he insisted signing-on fees and the striker’s wage demands mean only a handful of sides can realistically sign the forward.
He went on to suggest Newcastle could rival any club thanks to their new-found wealth.
“I think you’ve got to strike while the iron is hot,” Whelan told Football Insider’s Russell Edge.
“You look at Newcastle rebuilding, they could give him what he wants when it comes to wages.
“There will be a lot of suitors out there looking at Erling Haaland. Yes, £63million is not a lot of money for the player you’re going to be getting.
“Yes, I think the likes of Man City might be a more tempting proposition than Newcastle right now. They are a team that is built, ready to challenge and established.
“But the stumbling block is the agent and the fees they will be demanding. I think there are only certain clubs in the world that can do that. Newcastle are now one.”
Haaland has scored 70 goals in 69 appearances for Dortmund to date.
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