The future of Newcastle United captain Fabricio Coloccini is up for discussion once again in the Football Transfer Tavern, with Massimo Marioni of Metro claiming a proposed move to Argentina may be called off.

The Magpies are reportedly unimpressed with the pursuit of their captain from Argentinian club San Lorenzo, who have claimed they cannot afford to pay for the centre back, but are never the less hoping he will be allowed to join the club for family reasons.

Coloccini has expressed his desire to leave St. James' Park and return to his native South America, but Alan Pardew is clearly reluctant to let his captain leave, having already lost Demba Ba to Chelsea during this transfer window, and missing out on the signing of Loic Remy to QPR.

San Lorenzo's club president Matias Lammens, admitted the club did not have the funds to launch a bid:

"San Lorenzo can’t pay a fee for Coloccini. We don’t want to build up fans hope, we are dependent on Fabricio’s persistence to leave the club," Lammens told Rock and Closs.

"San Lorenzo’s position didn’t change. We will see the contract we can make for him, according to club’s economy. We would love having Fabricio amongst us but his exit from Newcastle won’t be easy."

Coloccini's father revealed earlier in the month that his son was hoping to return home to be with his wife, who is reportedly ill, although Lammens is sympathetic to Newcastle's situation.

"Putting myself in Newcastle’s place, it will be difficult to let Fabricio Coloccini leave," Lammens added.

"San Lorenzo will wait for him until the end of this week. If he can’t solve this situation, we will go for another player so that he can join in with time before the Torneo Final stars.

The Argentinian's have already identified a Palermo centre back as an alternative to the Newcastle defender.

"Mauro Cetto is priority for Juan Antonio Pizzi [manager] and the player said he would like to come."

Can Newcastle keep hold of Coloccini this January? Vote in our polls below.