Kevin Nicholls, Matt Spring, Steve Robinson, Chris Coyne, Emmerson Boyce, Alan Neilson, Adrian Forbes, Russ Perrett and David Bayliss are all out of contract at the end of June.
And with club's like Crystal Palace, Reading and Millwall expressing an interest in the likes of Emmerson Boyce and Matt Spring, Newell is eager to hear the signal from the club's new owners that talks can begin.
Newell told the Luton News: "We have to sort our players' futures out - that's the main priority.
"We've got some good players here, but if they decide to leave we won't get anything for them - that's the frustrating thing."