Borussia Monchengladbach managed to retain their star man until at least the end of the season.
But with his contract set to expire, plenty of would-be suitors are circling around the highly-rated attacker.
In addition to Newcastle, the Gunners will also face Premier League competition from Aston Villa, managed by former boss Unai Emery.
Bringing him to England will be a challenge, however, with Barcelona also in the mix.
Thuram’s legendary father Lilian played for the Catalan side alongside their current boss Xavi between 2006 and 2008.
Quizzed about the possibility of his son following in his footsteps, Lilian told RAC1 last month: “Any player dreams of playing for Barca.”
The LaLiga leaders have repeatedly targeted the free agent market in recent seasons – signing Franck Kessie, Andreas Christensen, Sergio Aguero and Memphis Depay upon the expiry of their previous contracts.
Also reportedly tracking Thuram are Real Madrid, Atletico Madrid, Borussia Dortmund, Sevilla and Inter Milan.
He has scored 10 goals in 18 Bundesliga appearances this term.
His form earned him a place in France’s 26-man World Cup squad, and he even assisted a goal for Kylian Mbappe in the final against Argentina.