The 25-year-old full-back will not be involved in Newcastle's final game of the season at Everton after damaging his ankle.
But the Magpies manager has accepted he will be forced to bring in a right-back if Simpson moves on, and he needs to know now what the future holds.
The defender is one of the lowest-paid players on the Magpies' books - his current deal is believed to be worth around £10,000-a-week - and it has been frustrating for him to hear that Alan Smith (who has hardly kicked a ball all season) is on £60,000-a-week and Spanish flop Xisco is on £50,000-a-week.
Talks took place shortly before Christmas, but were scrapped almost before they started, and in the last five months nothing has changed.
However the club claim there could potentially be some leeway for an improved bonus structure to raise Simpson's weekly wage, and this month's discussions are seen as a final opportunity to broker a deal.