The north-east club believed they had secured a deal that would have seen the Argentine centre half move to St James' Park for £7.8m.
Deportivo first added a further £1m to the asking price, and have again infuriated the player, his agent Marcelo Lombilla and Newcastle's recruitment team by upping the fee.
Hair-raising price-tag: Deportivo want £10m for defender Coloccini
Coloccini is so eager to sign the five-year, £50,000-a-week deal that he has threatened to buy out his contract.
Newcastle at least look to be on the verge of signing Sebastian Bassong from Metz, who is potentially their third signing of the summer.
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London gets ready for the Diamond Jubilee - in pictures
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Diamond Jubilee: Boat by boat, here is where to watch the Queen's Thames flotilla - VIDEO
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Duchess of Cambridge is pretty in pink at her first Buckingham Palace garden party
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‘We will form a human barricade to keep missiles off our homes’
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Regent’s Park rapist: Teenage jogger assaulted by stranger in terrifying 7am attack -
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Horror on the 5.53! Commuter dragged 200 feet after getting hand trapped on train -
Hunt-ed: Labour pile on pressure for Culture Secretary
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Family pay tribute to the London man who gave his life to save a five-year-old girl from drowning 
Eton schoolboys fly Games flag on Everest 
Shrimpy's - review 
The O2
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Rock star
Happy anniversary
Victoria Coren
Summer party
Diamond Jubilee
Glamour Awards
Garden party
First review
Fair-weather goths
Dog save the Queen
