The Daily Mail says the Argentina international, his lawyers and advisers, Newcastle's managing director Derek Llambias and the club's legal team met in Newcastle on Monday afternoon in a bid to resolve Coloccini's unhappiness.
The Newcastle skipper, who has four years left on the contract he signed last season, has told the club he wants to return to Argentina for unspecified personal reasons. But he has not put in an official transfer request.
Coloccini's former club San Lorenzo would love to take the centre half back to Buenos Aires but they cannot afford his £60,000-a-week wages or the £8million fee Newcastle will put on his head if he insists he wants to return to South America.
Monday's meeting, which did not include manager Alan Pardew, could be the first of many required to resolve Coloccini's future. Although there was no official news from the club last night, behind the scenes officials are hopeful Coloccini will agree to stay until the end of the season.