The 25-year old has been linked to the Suns and coach Stewart Dew, who spent several years at Sydney as an assistant coach.
Newman made his debut in 2017 and has played 31 games across two seasons, but is currently out of contract.
Fellow Swans backman Jake Lloyd is also out of contract, but Sydney head of football Tom Harley is confident he will stay put.
“Jake & the club and his manager have been in constant dialogue and it’s all really positive,” he told SEN’s Time On.
“Clearly it hasn’t been done to this point in time but we’re as confident as we can be at this stage.”