Newcastle United admitted this evening that the board and owner have been in discussions with Kevin Keegan over the last two days but insisted the manager has not been sacked by the club, though speculation today was that the former England boss was set to leave of his own accord.

Rumours today suggested that the 'Geordie Messiah's' second coming was over after just eight months following a meeting with club owner Mike Ashley, but Newcastle insist they want him to remain as manager.

"Newcastle United can confirm that meetings between members of the Board and manager Kevin Keegan were held both yesterday and today," a statement on the club's website read this evening.

"Kevin has raised a number of issues and those have been discussed with him.

"The Club wants to keep progressing with its long-term strategy and would like to stress that Kevin is extremely important, both now and in the future.

"Newcastle United values the effort and commitment shown by Kevin since his return to St. James' Park and wants him to continue to play an instrumental role as manager of the Club.

"For the avoidance of doubt the Club has not sacked Kevin Keegan as manager."

The statement appears to be distancing itself from the speculation that arose today but does nothing to address the rumours that Keegan was ready resign rather than preparing to be sacked.

While the club's insistence that the manager has not been sacked may do little to clarify the ongoing uncertainty, the fact that a dialogue is continuing will at least give fans who gathered at St James' Park throughout the day hope that there could be a resolution.

Keegan is understood to have been unhappy with the lack of high profile signings ahead of the transfer window deadline last night.

James Milner was sold to Aston Villa for €15million last week despite Keegan previously insisting he wanted to keep the winger, while it is believed new arrivals of Xisco (€7million) and Ignacio Gonzalez (year-long loan) yesterday were not his targets.

There were angry scenes at St James' Park today where fans gathered to call on Ashley to leave rather than Keegan.

Chants of 'sack the board' were repeated as fans voiced their dissatisfaction at reports Keegan was set to leave or be sacked only eight months after his high-profile return to Tyneside.

At Keegan's house fans draped a banner that read "Don't Go KK, Ashley Out" over the gates.

One fan outside St James' Park said: "We're supporting Keegan. We don't like Dennis Wise and we don't like Mike Ashley.

"I don't know what was going on during the transfer window but still, you never thought he would leave.

"I heard this morning and couldn't believe it."