The Toon have made the 24-year-old playmaker their number one summer transfer target and have seen their £7million bid rejected.
Cabella has joined up with the France squad at the last minute due to an injury to Clement Grenier and is hoping to make an impact in Brazil for the much fancied Les Bleus.
Nicollin has sarcastically called Newcastle a ‘great’ club and believes they are taking Montpellier for fools.
“Yes, the ‘great’ English club Newcastle has made us an offer of 8million from three weeks ago, which I refused,” he told Le Sport 10.
“I do not think Newcastle is right for him, and I also think they are taking us for idiots. They sold Yohan Cababye to PSG, for I do not know millions, and they should not take us for fools.
Nicollin confirmed that he wants around €16million for Cabella, as he compares him to another young French midfielder Florian Thauvin, who joined Marseille for that fee last summer from Bastia.
“I saw Thauvin was purchased for 16million and I think Cabella is slightly ahead of him, so let’s say that for 16million he leaves and if nobody wants to give that to us and he will remain.
“He still has two years of his contract, so there is no hurry to sell.”