St James' Park boss Sam Allardyce has travelled to Spain to let Dragutinovic know what is on offer at the club, but that may not be enough.
Dragutinovic would receive a huge pay rise at Newcastle although he is not sure if that would persuade him to move to England according to Sky Sports.
"Not everything is about money," said the 31 year old.
"In a few days, maybe on Wednesday or Thursday, We will make a decision, but I think that I am now closer to staying here."
Newcastle are understood to have agreed a fee of around £2.7m with Sevilla for the player and they are now keen to persuade him to make the move, but this looks unlikely.