Keegan, through his legal advisors, has told Ashley and the hierarchy that he is more than willing to return to his St James's Park duties.

However, Keegan wants the kind of control he enjoyed during his first spell as manager, when he had the final say on all incoming and outgoing transfers.

As it is, he feels too many decisions, not least in the transfer market, are being made without his approval.

And Ashley and managing director Derek Llambias will now have to decide whether to marginalise, or even sack, executive director (football) Dennis Wise and his team, or risk further wrath from a fanbase which is up in arms at dramatic events of the past few days.

Keegan was again absent from the club's Benton HQ today, with assistants Terry McDermott and Chris Hughton taking training.

One report this morning said Keegan had been offered a £2m severance package, including a secrecy clause, to go.

However, should the 57-year-old be sacked, he would be entitled to around £8m in compensation, and Keegan is understood to have consulated employment lawyers over a possible claim for constructive dismissal.

United's players, meanwhile, are deeply concerned with the developments of the past few days, and especially the treatment of Keegan and the lack of incoming transfers.

Reports that every member of Newcastle's playing staff was available on transfer deadline day, for the right price, have also undermined a morale which had been high after a promising start to the new season under Keegan.

One player's agent said: "Some agents say they were informed on Monday that every Newcastle player could be bought, and this hasn't gone down well.

"They are demoralised, and the only good thing about this is that they do not have a game until a week on Saturday (when Hull City visit St James's Park)."