The fee for Trippier is around 12 million dollars, plus add-ons.
The personal terms of the medical procedure are not thought to be a problem for the England international.
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Pete Smith looked at what impact Trippier would have if he moved to the United States.
Trippier wanted to go back to England, even though he was wanted to stay by Atleti.
The Saudi-backed regime will be the first to sign the 31-year-old.
Trippier was signed by Eddie Howe from Manchester City in January 2012 after an impressive loan spell at Turf Moor.
The club's owners hope to add at least three more players this month as they try to keep the club in the top flight.
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The Good Morning Transfers panel discussed if a deal could happen which would see Dutch defender Sven Botman move from Lille to Newcastle.
They have played 19 matches in the league this season and are two points from the safety zone.
Trippier would bring experience and quality to the defence.
Sky Sports' Peter Smith.
The 80 goals they conceded was the most ever recorded in a calendar year by a Premier League team. Only eight sides have ever let in more than 42 in the first 19 matches of a season.
The leakiness of the team has proved costly, with the team dropping more points from winning positions than any other team.
The picture is plain: this is a defence which badly needs reinforcements in January, and the fact that they have allowed more shots on their goal than any other team in the league this term is a sign.
Eddie Howe has not been able to improve that department since he took over from Steve Bruce.
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Manchester United fought back to claim a draw against a team in the bottom half of the league.
Trippier was coached by Howe in the Championship for two seasons. Trippier has gone on to become one of Europe's top right-backs, reaching a European final with Spurs before winning La Liga with Atleti Madrid, where Diego Simeone's coaching has improved his defensive skills.
Trippier's creativity from crosses and set-pieces has made him a favourite of England boss Gareth Southgate, who turned to him at key moments throughout the team's run to the Euro 2020 final last summer before handing him the captain's armband for the World Cup.
Trippier will add leadership, experience and quality to the backline if he is brought to St James' Park. It would be a transfer that would boost their hopes of staying in the league.
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