The Croatian veteran is currently without a club.
Olic has now spoken to Bild in Germany about his future.
Ivica Olic celebrates after scoring against FC Carl Zeiss Jena
He expressed interest in a possible move to 1860 Munich, where he could again play at the Allianz Arena, even though the club are currently in German football’s second tier.
As for heading to England’s second tier with either of Villa or Newcastle he made it clear it was a decision he needed to make with his family:
"It's an option.
“Because 1860 is a great club, has a class trainer, a magnificent stadium and Munich is a beautiful city.
“I have not made a decision, which will take a few days. I need to talk in peace with my wife, what is best for us. In a week, latest, I'll make my decision."
ica Olic of Croatia (2nd R) celebrates his goal against Norway with team mates during Euro 2016 qualifying
It was reported this week that both Villa and Newcastle were interested in snapping up the Croatian veteran – who is currently a free transfer after his contract with Hamburg expired recently.
Bild reported that the tireless former Bayern Munich star was on the radar of the recently relegated Championship pair – who are looking at improving their respective squads ahead of what will hopefully be a promotion campaign.
Allianz lit for 1860 Munich
Olic may be 36-years-old but he is still in great shape and is a hard-working and industrious forward – something both Villa and Newcastle could do with in the Championship next season.
So it will be interesting to see where he turns up.