The midfielder appears set to leave Liverpool even though there is still a year remaining on his contract, with the Lepra in pole position to reclaim their academy graduate
The Argentina international, 31, is expected to leave England on a free transfer this summer, with reports circulating that he is negotiating to end his time with the Reds one year before his contract expires.
According to Newell's secretary Pablo Morosano, everything is in place to bring 'La Fiera' back to Rosario once he becomes a free agent.
"We are waiting for official news about the end of Maxi's link [with Liverpool]. There is an ongoing contact and we have a deal agreed with him," the official revealed to Ole.
"But as long as his exit from Liverpool has not been settled, we cannot announce it."
Maxi is a product of Newell's youth system, and played at the club for three years before moving to Espanyol in 2002. He was used sparingly by Liverpool during the 2011-12 season, making just 11 league appearances.