The Argentine was reportedly involved in a dressing-room row involving both his teammates and current Toon boss Alan Pardew, with the 32-year-old believed to be unhappy with the way the team has been playing in recent weeks.
Although the defender has previously pushed for a move back to his homeland, Manchester City could yet again be the benefactors.
Manuel Pellegrini has come in for criticism this season for failing to adequately equip the Citizens with necessary defensive reinforcements, having signed former Malaga charge Martin Demichelis to mixed reviews.
The former Bayern Munich defender may have improved in recent weeks but a series of major gaffs early in his spell have still cost City points and, should they fail to win the Premier League, then a big money move for Coloccini could suit one and all.
No fee has yet been mentioned but with Newcastle owner Mike Ashley always keen to recoup money on the team’s star players, the Sky Blues could be made to pay over the odds for the player.
At 32-years of age I don't believe he is the type of player Pellegrini is looking for.