He was initially expected to miss up to six weeks but Newman doesn't believe it will be that long.
"I don't think it'd be anywhere near six," Newman told AFL.com.au on Monday.
"(I'm) looking to miss maybe three or four, just depending on how it heals up - hopefully it's a bit quicker.
"It's the type of injury that we won't rush, it's just a bit frustrating at the moment, not ideal but (I) just have to do what's required and hopefully get back OK.
"We'll probably a bit of light walking this week and then hopefully I'll be able to have a bit of a jog by the end of this week."
The former Richmond captain, 31, is out of contact at the end of the season but is keen to play on in 2015. He doesn't think the setback will hamper his prospects of another season.
"I know that this injury isn't ideal but certainly if I'm mentally and physically able to play on then I think I will," Newman said.
"(It's) always dependent on whether I'm still required at the club and whether I'm holding anyone back."
Newman has played 240 games for the Tigers since making his debut in 2002.