The Merseysiders are looking for a buyer for the former Germany international and only Bolton have shown interest in the 32-year-old who is expected to cost around £500,000.
Hamann, who has already held talks with Bolton manager Sam Allardyce, told the Daily Mirror: "My heart is with Liverpool, but I have to do what's right. The decision to sell me has not come as a shock, but deciding whether to go or not is very hard. I'll be back in England later this week and that's when I'll decide whether to go to Bolton. They're the only club which have shown any interest."
United bought him from Bayern Munich in 1998 but he only spent a season at the club, like so many before him (Albert Stubbins, Peter Beardsley, Alan Kennedy, Terry McDermott, etc) ... finding Liverpool more tempting.
He made 30 starts for Newcastle, scoring 5 goals.