The 29-year old centre-half is attracting interest from a handful of Major Soccer League clubs, following the visit of LA Galaxy to the Hunter recently.
Milicevic's career took a bit of a halt when he returned to Australia after a successful spell in Switzerland, experiencing difficulty with Melbourne Victory, but since he has put on a Jets shirt, things have started to look up.
It is understood Milicevic will consider all the options laid out to him but has made it clear he wants to stay with the Jets if a good deal can be sorted according to club executive chairman Ken Edwards.
"I have spoken to Ljubo and he wants to stay at the club and we want him to stay," Edwards said. "But the salary cap is real and we are not going to operate outside of it."