The former Colombia international, now 42, rapidly achieved cult status in the 1990s after a number of memorable displays - most notably a hat-trick in a 3-2 Champions League win over Barcelona in 1997.
He told the Sun: "A year ago I spoke with Newcastle's owners about bringing over players from my coaching school (in Colombia).
"It didn't happen due to some requirements of the English league but then, during informal meetings with fans, I said I'd be interested in returning.
"That encouraged the owners and three months ago they invited me over. I'm motivated and like the city.
"I often accompany the team when they are travelling in England. It is a significant opportunity and hopefully something will materialise."
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