The London club have given the Frenchman permission to talk to last season's Premier League runners-up.
Loic Remy looks to be heading for Liverpool after Queens Park Rangers accepted a bid of £8.5m for the French international striker.
Remy, who spent last season on loan at Newcastle, had a clause that would allow him to move to a Champions League club for a reduced fee.
The signing of Remy should see the Reds end their interest in Swansea striker Wilfried Bony, who would have cost closer to the £20m mark.
The fee will be offset by the reported £14m that Sunderland are prepared to pay for Fabio Borini.
