The former FC Twente striker attracted interest from the two Premier league clubs according to his agent, but Borussia Monchengladbach won the race for his signature
The 21-year old was heavily linked with Newcastle but chose to ply his trade in Germany for Monchengladbach, and the striker's agent believes the lack of desire shown from the Magpies cost them the chance to sign him.
"There were a lot of clubs interested in Luuk," his agent, Louis Laros told Sky Sports. "Liverpool showed interest and also Newcastle were very interested in signing him.
"But everything happens so quickly in football and in the end Gladbach showed the stronger desire to sign him whilst Newcastle were not able to come to an agreement with Twente."
The Dutchman, who scored 27 goals last season, was chosen for the Netherlands Euro 2012 squad but didn't make an appearance.
Borussia Monchengladbach will be participating in the Champions League next season after finishing fourth in last season's Bundesliga, and this, coupled with guaranteed first-team football is why De Jong chose the German club, according to Laros.
He added: "Luuk was a regular starter at Twente, so one of his priorities for a transfer was to play at a club where he would be able to continue his development as a footballer.
"Gladbach were able to assure him that they trusted him and wanted to give him a prominent role from day one.
"The Bundesliga is very popular in the Netherlands, and Gladbach is one of the biggest clubs in Germany.
"They have great facilities, a huge stadium and a very capable coach, so of course Luuk had no reservations in signing for Gladbach."