The 24-year-old is out of contract at the Stadium of Light this summer, but Sunderland have revealed that he is set to leave after failing to agree terms.
But, with £19m stashed away somewhere from the Yohan Cabaye sale, surely this free-transfer isn't the answer to our midfield problems.
A good deal - yes - but he's NO Cabaye!
Sky Sports understands that Colback is keeping his options open, which could yet see him staying at the Stadium of Light - should Sunderland avoid relegation.
But no matter whether Sunderland stay up or not, Colback will have a plethora of options available to him.
It is understood that a host of teams are now monitoring Colback's situation very closely, with a view to landing him on a Bosman free transfer this summer.
Everton, Hull City and Newcastle United are amongst the clubs know to be keen on Tyneside-born Colback