Milner is wanted by Stone's old club Aston Villa, though Newcastle – who yesterday signed another right winger in Jonas Gutierrez – have indicated he is not for sale.

Gateshead-born Stone – who won England honours playing the same position as Milner – believes the 22-year-old has improved dramatically over the past two years.

However, with Keegan having limited funds this summer, a sizeable bid for Milner from Villa, or his other suitors Liverpool, could give the 57-year-old a difficult decision to make.

Stone said: "I think James Milner's done ever so well – he's somebody you'd love at your football club.

"He works his socks off for the team, and seems to have improved no end.

"People have criticised his final ball, but I think that's improved in the last couple of years, and he's also chipped in with a few goals.

"However, if you get a big bid in, and can get two players for that money, then you have to consider it.

"Sometimes you've got to sacrifice a player, and Keegan did it with Andy Cole.

"It depends how much has been bid. Everybody's got a price – even David Beckham and Thierry Henry had their prices.

"I'm sure the price would have to be right for him to leave, but you'd rather keep him at the football club."

United fan Stone – a regular in the St James's Park Press box in his role as a summariser for Radio 5 Live – keeps a close eye on events at Newcastle.

Stone added: "Kevin Keegan needs bodies through the door, but they've got to be quality.

"There's no point just buying five or six players who are the same as what he's already got.

"The important thing, even if it means bringing in just two or three, is that they've got to be top quality.

"They went for (Luka) Modric, and he's the type of player the club's got to go for.

"The pressure's on for all the clubs around the country.

"There's not a great deal of business done until after the championships, and even as late as the first game.

"I wouldn't be too worried at the moment as a Newcastle fan. The homework's being done, and things will happen soon."

* Steve Stone is running a Soccer School for six to 15-year-olds this summer.

It kicks off on July 21 at Druid Park, home of Newcastle Blue Star, and runs for six weeks, with parents able to book children on to the course – which run from 10am-3pm – on a weekly basis.

The course – which is open to boys and girls – costs £60 per week, and the school is offering a 'book one child and the second goes free' offer.

For more information log on to www.unifiedevents.co.uk/soccerschool, e-mail info@unifiedevents.co.uk or call/text 07881 552510 or 07960 042314.