The former Manchester United midfielder’s contract expires at the end of the season, but Newcastle have the option to extend it by a further 12 months.
“I would like to stay here and finish my career here,” said Butt in the Sunday Sun.
“If it is not to be, it is not to be, but the club have a one-year option to extend my contract.
“It’s not a big deal at the moment. I will just keep working hard and see what that brings.
“I’m the same as everyone else who is in that boat. We just have to put the contract situation to one side while the club gets some stability and a buyer comes in.
“But it’s definitely not going to be a long-term thing with me at my age, because I am 34 in two months’ time.”
