The Italian, who left Juventus this summer, is considering moving to Australia according to his brother and agent.
“Sydney remain a possibility,” Stefano del Piero said.
“There are a few issues that we still need to elaborate on and we’ll continue talking.”
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Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.
Newcastle United are staring down the barrel of relegation to the Championship for the second time in the past eight years.