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From the quotes gathered with the journalist who wishes to remain anonymous NCM believe Butcher could be given a two-year-deal upon his return from holiday over the next fourteen days.
As for Cooke - the striker who hit twelve goals last term - that deal is less certain although it is still close.
The story was first broken in the News of the World on Sunday and Cooke is keen on the move with a few minor details to be sorted.
Midfielder Butcher has enjoyed some success at this level, most notably as a goalscoring midfielder with Lincoln City.
The other outstanding deal for Notts is that of released Charlton youngster Myles Weston.
The tricky left winger impressed during a short loan switch at Meadow Lane at the end of the season and has been offered terms by boss Steve Thompson.
However, he is said to be holding out for a move to a League One club in London - should that fail he is looking forward to taking up the challenge of getting Notts out of League Two.