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The Magpies are currently rock bottom of the Premier League and six points from safety despite a Saudi-backed takeover in October.
It means they have big money to spend in January should they choose to, and Ferdinand arrived at an interesting named during Gazetta Dello Five on his YouTube channel.
"Who takes Gareth Bale man? That's the question, who takes Bale?" Ferdinand asked Joel co-host Joel Beya and guest Fabrizio Romano.
"Newcastle," Beya immediately fired back with. "That's a good shout, a good shout, Newcastle.
"Newcastle are the only team in the Premier League who would be willing to make a mad appointment like that, I know you know him personally Rio, but I just think his career has been done a minute ago."
Ferdinand then added a second Premier League return would appeal to him, after spending last season on loan at Tottenham Hotspur from Real Madrid.
"I just think he's a massive talent man, if you can get him on the cheap, and you can take the wages down, you have a chance to have massive opportunity. It's a risk because he hasn't played loads recently, he didn't set the world alight at Spurs, but he still scored a few goals."
Bale featured in Madrid's first three La Liga games of the season off the bench and managed to score in a 3-3 draw with Levante.
The 32-year-old hasn't played a club game since August however due to a number of injuries.
Vinicius Jr has been a breakout start for 'Los Blancos' and it'll be hard for Bale to regain his place in the squad.
Ugly scenes earlier this month saw Bale confronted by a number of Madrid fans while leaving training.
Bale has played for Wales in recent months despite being unavailable for Madrid and it's seen tempers boil over.
As Bale pulled out of Real's base, fans hurled abuse at him - one supporter even threw a marker towards his car.
While another fan shouted 'F**k you' and another screamed 'Maricon', which is a homophobic slur in Spanish.
Do you think Gareth Bale would be a good signing for Newcastle United?
Let us know in the comments.
Featured Image Credit: Rio Ferdinand Presents FIVE/YouTube & PA Images
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