Greek giants Olympiakos are looking to snap up Newcastle United defender Fabricio Coloccini with an unexpected bid.

The Athens outfit are set make an offer of £2.5million for the Argentine international, who has a year left on his contract, according to reports.

Coloccini is one of the top earners at St James' Park but would have to take a pay cut from his £60,000-a-week wages to join the Greek side.

The 33-year-old defender who has been suffering with an injury throughout pre-season, is also being considered by Crystal Palace boss Alan Pardew.

However, Olympiakos are still hopeful they can persuade the Argentine centre-back, who has represented Newcastle almost 250 times since he joined in 2008, to join them on a three-year contract.