Ipswich boss Mick McCarthy has offered a short-term contract to former West Ham midfielder Jack Collison.
Chairman Fawaz Al Hasawi has vowed to strengthen Nottingham Forest year on year, with loan arrivals possible.
The 29-year-old forward only moved to England in January, penning a two-and-a-half-year contract at the Stadium of Light.
That agreement may be cut short, though, as Scocco has struggled to settle in the Premier League.
He saw his first team outings limited following his arrival and Sunderland boss Gus Poyet is working hard this summer to bring in further attacking recruits.
That would appear to pave the way for Scocco to head home, and former employers Newell’s believe they are heading the queue to secure his services.
Coach Gustavo Raggio told America & Closs: “Scocco has to play with us.
“Scocco will play in Newell’s, there is no doubt about that.
“The arrival of Nacho is going to give more quality to the team. I have to be prepared for training this type of player.”
Raggio has also revealed that no further transfer moves will be made after a deal for Scocco is wrapped up.
He added: “With Nacho, I am more than happy to fight for what we have to play for in this part of the year.”