This morning the story has become more credible, with the player's agent, Giovanni Bia, saying that United want to loan him to a Premier League club, and Newcastle have the edge over QPR.
To me this is a story that makes sense.
Newcastle boss Alan Pardew and Sir Alex Ferguson are friends, and the move looks like it could benefit both sides.
United have a wealth of attacking talent at the minute—just ask the Arsenal fans—and the 20-year-old Italian will struggle to get a look in at Old Trafford.
In contrast, Newcastle lack forward options.
Leon Best is looking good with his brace over Fulham, and Demba Ba showed last season at West Ham that he definitely knows where the net is. Unfortunately, I'm not so sure about Shola Ameobi and Peter Lovenkrands.
Lovenkrands looks less and less impressive every time I see him play, and I don't think you can count on Shola for more than 10 goals a season, so signing a new striker is priority number one for Pardew.
I think Macheda could do a job for the Magpies; he's shown glimpses of brilliance at United, and if given regular games then he could flourish into a very good striker, much like Danny Welbeck at Sunderland last season.
The worry for the Toon Army, though, is that if Macheda comes, will the pursuit of a new striker end? Newcastle have been linked with a host of attacking talent this transfer window, with the most recent being Fulham's Clint Dempsey and Sochaux's Mali international forward Modibo Maiga.
Both these players would excite the Toon faithful, who love their centre forwards, but would also command high transfer fees that could put off owner Mike Ashley, who has been tight with the purse strings this summer.
But I think that few would be complaining with the acquisition of Macheda, who is young and exciting and can score goals.