Newcastle Transfer News: Fabricio Coloccini NOT Joining San Lorenzo

Twitter. San Lorenzo also confirmed via their website that they have abandoned any hopes of signing the player, writing:

"Finally, after long negotiations, we announce that Coloccini will not join the squad"

The news will come as welcome relief to manager Alan Pardew who has faced a battle to keep hold of his star defender ever since the Argentine centre-back asked to leave on personal grounds earlier this month. However, Coloccini signed a new four-year contract at St James' Park last year, which meant a move could only have been likely had the player handed in a formal transfer request. Matias Lammens, San Lorenzo's club president, recently spoke of the difficulty in signing Coloccini from Newcastle.

"I believe any deal will be difficult because the money could be impossible for us. We are dependent on the player agreeing something with Newcastle. "It would be impossible for us to buy the player because of our financial situation. "We know he has private problems and wants to come to Argentina so we would desire an agreement and can offer him a good contract."

It is unclear at this stage if this is the end of the departure rumours surrounding Coloccini, but it will come as a huge boost to Pardew who is in the middle of rebuilding his side. He has already completed the signing of right-back Mathieu Debuchy and yesterday signed defender Mapou Yanga-Mbiwa from Montpellier. Newcastle United are two points above the relegation zone and are without a win in 6 games in league and cup.