His departure has prompted a mass scramble for his signature, with several teams keen to land the technical chief after his huge success in the sport.
Newey has long been credited for Red Bull's recent success, with the 65-year-old having won a plethora of world championships throughout his career and designed some of the most successful cars in F1 history.
The Brit was originally tipped to join Ferrari alongside Lewis Hamilton, as the Maranello outfit looks to return to world championship-winning ways.
However, both Aston Martin and McLaren arose as competitors for Newey's signature, before the latter dropped out of the race.
Now, Sky Sports F1 pundit David Croft has revealed when Newey's next destination may be announced, with Lawrence Stroll reportedly working on a deal to bring him to Aston Martin.
"I think we will hear something about Adrian Newey's future next week," Croft told Sky Sports during the Italian GP weekend.
"Well, he’s been linked heavily with Aston Martin hasn’t he? Do Aston Martin need Adrian Newey?"
2016 world champion Rosberg then went on to give his opinion on where Newey's strengths would lie at a team like Aston Martin: "As a big picture consultant, overseeing the teams, overseeing the decision-making, that’s where he’s absolutely brilliant," he suggested.
"He comes with a substantial cost as well," Rosberg admitted.