The 24-year-old Iceland international scored 24 goals in the Dutch top flight last season.
The Journal reports that Finnbogason was offered to the Magpies during the summer window for a fee of around £5million.
Newcastle decided to look at other targets during the summer.
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The start of the 2017-18 Premier League season is just around the corner and is shaping up to be one of the most competitive yet.
As always it is the so called “big clubs” that have splashed the most cash in the transfer window so far this summer. Manchester United or City? Arsenal or Tottenham? Who are the winners and losers of the transfer window so far?