"We had talks in January - Joey was prepared to take a drop in wages and we couldn't get anywhere," Barton's agent Willie McKay told BBC Newcastle.
"I had a meeting this morning with [managing director] Derek [Llambias] and [football secretary] Lee [Charnley] and there was no offer on the table.
"I've no idea what their thoughts were on the situation, they knew he was going to take less money. He's 28, which is a funny age, he needed a four-year contract which would see him through his best years.
"He was happy with four years and less money.
"He'll probably just run his contract out [at Newcastle], but we need to look for something for Joey in January, and that's where we are.
“Joey was prepared to take a drop in wages and we couldn't get anywhere”
Willie McKayJoey Barton's agent
"He wants to play as well as he can for Newcastle this year, and get the club where they belong which is top five."
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