But forget talk of price tags, and the woeful performances under Kenny Dalglish, let's consider whether Andy Carroll actually fits into Newcastle's current set up.
It was at Newcastle that Carroll made his name, the hometown hero who scored 17 goals to help them win promotion from the Championship.
He took to the Premier League like a duck to water, scoring 11 in 19, earning the interest of Liverpool who signed him in the wake of Fernando Torres' departure.
Alan Pardew had only managed Carroll for two months before he was sold, taking over from Chris Hughton, but since then the manager has transformed the club.
Last summer out went Carroll's buddies, Kevin Nolan and Joey Barton, and in came a group of talented foreign stars, including Yohan Cabaye and Demba Ba.
Alan Smith, another former vocal figure in the Newcastle dressing room during Carroll's time at the club has also been moved on, and the club's quick evolution will mean if the player was to return, behind the scenes he may find it familiar yet almost unrecognisable.
And that is just off the pitch. On it Newcastle had made big progress, reaching fifth last season and qualifying for the Europa League.
The days of Joey Barton making long searching passes aiming for the head of Andy Carroll is gone, Newcastle play a more attractive and effective style of football - or at least that is where they are aiming, and you are more likely to see Cabaye sliding a through ball in for Papiss Cisse these days.
Not to mention the skill of Hatem Ben Arfa in the wide areas, who has urged Pardew to use his talents and ensure tactics are not just predictable and direct.
Bringing back Andy Carroll would indicate a return to just that, the ball in the air rather than at the player's feet, as they seek to utilise his heading ability.
Would Carroll be a first choice? Cover in case Demba Ba leaves? Newcastle fans are said to be split on having their former striker back, and it for two reasons, whether he will be a distraction for the team off the field, and if he would hamper their sudden progression on it.
Newcastle do need to add to their squad, they will face more games next season, in both the Premier League and Europa League, and a little extra in order to succeed on both fronts. Even finishing in the top five, or even six, looks harder than ever.
If Andy Carroll is bought, and it all works out, the club could be better off. They would have made at least £17 million profit, and have back a motivated and happy player, determined to prove a point and re-establish his love affair with the Toon fans.
A 'plan B' would not be such a bad idea for Newcastle. Carroll would be an expensive one, but of course it should be viewed in context of his sale. On the pitch he could offer a real footballing alternative off the bench if games are not working out their way.
The big question is whether re-signing Carroll is a risk Newcastle need to take, currently they are going fine without him. If it does not work out, there will be no winners, club or player, only Liverpool.
Should Newcastle take back Andy Carroll? What do you think?