Fabricio Coloccini has reiterated his desire to leave Newcastle for personal reasons during talks this week.
The club is resigned to his wish to return home to Argentina, but officials have told the 31-year-old they want him to stay until the end of the season.
Coloccini has been given until the end of the week to make a final decision.
But with no club in Argentina able to match Newcastle's valuation, Coloccini may be forced to breach his contract if he is to return to South America.
With Newcastle embroiled in a fight against relegation, this is a distraction they could do without.
Sources close to Coloccini have stressed the player's position has nothing to do with Newcastle's poor form this season and is purely down to a crisis in the player's personal life but that is of little consolation to the club or the supporters.
Originally from Cordoba in Argentina, Coloccini joined Newcastle from Deportivo La Coruna for £10.3million in 2008 and signed a new four-year contract with Newcastle last year.
But his performances have drawn praise from manager Alan Pardew, who said that watching him against rivals Sunderland in October was 'like watching Bobby Moore'.
Newcastle have already sold striker Demba Ba to Chelsea during this transfer window.