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The Lazio striker netted 36 goals this season as he won the Serie A Golden Boot as well as the European Golden Shoe.
He is arguably in the form of his life and Newcastle were interested in securing his signature.
Mike Ashley had planned to sell the club to a Saudi Arabian consortium fronted via the country's Public Investment Fund but a deal fell through - which scuppered any move for Immobile.
The 30-year-old told Corriere Dello Sport: "During the period in which there was talk of the possible purchase of Newcastle by the Sheikh's fund they called my agent, Alessandro Moggi.
"Then the Premier League did not approve that proposal, or the fund withdrew, I don't remember well. I know they were also looking for an Italian coach, [Massimiliano] Allegri or [Luciano] Spalletti."
A takeover of the Magpies collapsed in July after the buying party grew tired of waiting for a verdict from the Premier League.
It was rumoured that the Saudi consortium were willing to inject the club with a £300 million transfer budget.
Italian forward Immobile then stressed that he wants to finish his career with Lazio after becoming a fan favourite at the Stadio Olimpico.
"I intend to tie myself to Lazio forever. The renewal will be for three years, so the contract will expire in 2025 when I turn 35.
"Before I arrived at Lazio, contacts with Napoli were frequent, but for one reason or another, we never went any further.
"Naples is the city where I was born, I always follow Napoli with affection, but what Lazio has given me and is giving me is priceless."
FACT: Since Ciro Immobile joined Lazio in 2016, only 3 men have scored more league goals than the Italian:- PF ' Transfer News (@PurelyFootball) August 9, 2020
• 132 Messi
• 115 Robert Lewandowski
• 103 Cristiano Ronaldo
• 102 Ciro Immobile :fire: pic.twitter.com/FXTz5iKAv9
Immobile's 36 goal haul means he matched Gonzalo Higuain and Gino Rossetti's all-time scoring record in the league.
He also managed to outscore some of the world's best players in domestic competitions - something he took great pride in.
"Crazy, me in front of [Cristiano] Ronaldo and [Robert] Lewandowski, if I reread the roll of honour [for the award], I almost do not believe it: [Lionel] Messi, Messi, [Luis] Suarez, Ronaldo, Ronaldo, Messi, Messi, Ronaldo, Messi."
Featured Image Credit: PA Images
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