His time at Vale Park is due to end after the game with Darlington on Saturday.
If the offer is accepted, it could lead to Newton becoming the new chairman at Vale Park.
Taylor signed a short-term deal at Vale Park in August, after being released by Hereford in the summer.
The 36-year-old has managed just one start and 10 substitute appearances since his arrival at Vale Park in July.
In the 2-0 home defeat against Barnet, Fraser was substituted, and booed off by a section of the Vale Park crowd.
Vale have so far signed Adam Yates from Morecambe, while Doug Loft and Tommy Frazer followed Adams to Vale Park from Brighton.
Yates, who is out of contract at the end of the season, is close to agreeing a new deal at Vale Park.
Vice-chairman Peter Jackson believes the club's position in the table will help to attract a better quality of manager to Vale Park.
Horsfield signed a one-year contract with Port Vale on Tuesday and will work at Vale Park as number two to manager Micky Adams.
The firm is in talks over a new major development at an out of town site, possibly Swansea Enterprise Park or Swansea vale.
The former Oxford, Wolves, Oldham and Stockport frontman could make his debut against his hometown club Burton Albion at Vale Park on Tuesday.
BBC: Craig Davies happy to play for Micky Adams at Port Vale
Glover's reign at Vale Park ended following the season's final game.
However, Saturday, 20 September 2008 marked the first occasion that the Silkmen had ever visited Vale Park in the league, and they left a lasting impression.
And Horsfield, who beat cancer to return to league football with Vale last summer, hopes to be involved when Macclesfield visit Vale Park on 23 January.
Adams, who still hopes to add to his squad, has confirmed that Bristol Rovers striker Lewis Haldane will remain on loan at Vale Park for another month.
Rodgers has been on loan with League One side Yeovil Town and Glover admits having Rodgers off the wage bill would allow him to bring players into Vale Park.
Horsfield has made no secret of his desire to become a manager in the future and Adams wants to give him the chance to further develop his coaching skills at Vale Park.
Richards' current deal at Vale Park was due to expire this summer and the former Blackburn and Northampton man had attracted interest from a number of Scottish Premier League and League One sides.
BBC: Port Vale striker Marc Richards signs new two-year deal
Horsfield arrived at Vale Park in July 2009, but a series of injuries have limited him to just one start for the club, which came on the opening day of the season against Rochdale.
Meanwhile, trialist Claus Jorgensen has refused a deal at Vale Park after manager Micky Adams offered the former Blackpool midfielder a short-term contract, and striker Steve Thompson has joined Blue Square North side Stafford Rangers on loan.
His deputy, Chris Martin, had been one of the star performers in the team this season, but with Anyon out of contract in the summer, Adams chose to give the former Blackburn trainee a chance to prove he is worthy of another deal at Vale Park.
BBC: Micky Adams undecided on Port Vale goalkeeper Joe Anyon
Players can move their pieces from his birthplace in Maida Vale to Hut 8 at Bletchley Park.
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