Wigan have announced Uwe Rosler as their new manager after agreeing compensation with Brentford.
Arsenal manager Arsene Wenger feels loan deals should be treated just like permanent transfers.
The 34-year-old Spaniard had been strongly linked with another of his former clubs, Rangers, but a deal has failed to materialise.
Now the former Raith and Dundee forward, who is based in Scotland, could be heading for Kilmarnock after leaving Spanish side Huesca earlier in the summer.
"There was a lot of talk about Rangers but the manager never got back to me," Novo told the Daily Record.
"I was disappointed to be treated like that but don't feel I need to prove myself to anybody. Kilmarnock have been great with me.
"I really enjoyed my first day and was made to feel welcome by everyone.
"I have offers and interest from abroad, but my family situation is something I need to consider. I've hardly seen them for three years."