Joe Kinnear will not return to Newcastle as the club’s new manager, sources at the club said today. A report claimed the 62-year-old has been asked to take charge at St James’ Park for the second time as Mike Ashley struggles to offload the club he put up for sale days after relegation to the Championship.

However, sources at Tyneside have insisted that is not the case and efforts to secure a deal with prospective buyers, who will then appoint their own manager, are ongoing.

Fans’ favourite Alan Shearer remains at the end of a telephone line just waiting for a call after making his position on the vacancy clear.

However, Ashley, who held talks with the 38-year-old before deciding to sell the club, has his hands tied with those consortia leading the race to buy him out insisting it is they who will make any appointment.

In the meantime, coach Chris Hughton is acting as caretaker for the third time in less than a year with assistance from Colin Calderwood.