At the behest of Freddy Shepherd, the chairman, Bond was placed on “gardening leave” before Newcastle’s Uefa Cup tie away to FC Levadia Tallinn on September 14. He has not been alongside Glenn Roeder, the manager, for any of the team’s three subsequent matches, but attended a meeting with Shepherd at St James’ Park on Friday.

An official announcement about his future was made this morning. It said: "Newcastle United has terminated Kevin Bond's contract. There is no further comment from the club."

In a statement released through his solicitors, Bond responded: “I am extremely disappointed that Newcastle United Football Club has chosen to terminate my contract without carrying out any proper investigation into the allegations made against me in the Panorama programme.

“My lawyers will shortly be going to court to compel the BBC to release full transcripts of the recordings.

“Rather than waiting for this and the outcome of any FA investigation, NUFC have made their decision solely on the basis of a few sentences carefully selected and edited by Panorama.

“I intend to pursue all legal avenues to vindicate my reputation and restore my career and livelihood.”

Bond’s departure represents an inconvenience for Roeder, who lured him from Portsmouth only three months ago, but, given that the manager conducts much of the training, his loss is unlikely to be felt keenly. Another appointment will not be rushed.

Panorama’s investigation resulted in the Football Association and FA Premier League launching a joint inquiry into alleged illegal approaches for players by Frank Arnesen, the Chelsea director of youth football, Liverpool, Newcastle and Harry Redknapp, the Portsmouth manager.

The FA is also committed to making further investigations into the reported behaviour of Bond — during his spell at Portsmouth — Sam Allardyce, the Bolton Wanderers manager, and his son, Craig, as well as Charles Collymore and Peter Harrison, two of the agents who featured last week in the programme, Undercover: Football’s Dirty Secrets.

The FA called on the BBC to provide it with “all of the information it obtained” during its investigation as a “matter of urgency” and there was annoyance within the governing body when Panorama officials, who spent a year working on the programme, expressed a reluctance to compromise their sources. Material has yet to be given to the FA. The groups met yesterday for talks, however, with the corporation responding positively to the FA’s demand, although the method for the release of information has yet to be determined.

“The meeting was positive and constructive,” a BBC spokesman said. “The BBC emphasised that it is keen to help the relevant authorities with their investigations and a proper process has now been put in place.”

Sam Allardyce is also prepared to begin legal proceedings against the BBC after Panorama alleged that he and his son were given bribes to facilitate transfers, accusations that they contest vigorously.

“I have had lengthy discussions today with my lawyers and they have advised me that I have a very strong case in relation to the Panorama programme,” Allardyce said in a statement yesterday. “I have therefore instructed them to prepare my case against the BBC, whom I am planning to sue over the false and highly damaging allegations which they broadcast.”

Allardyce was also involved in a heated exchange with a television presenter after Bolton’s 1-0 win over Portsmouth at Fratton Park last night, when he was asked if he had “ever been offered a bung”. Allardyce said that the question was “out of order”.

With the Stevens inquiry scheduled to report on allegations of football corruption on October 2, it is proving a bruising period for the game. “We feel very, very distressed about it, but at this moment we will reserve any further comments until we see the Stevens report,” John Barnwell, the chief executive of the League Managers Association, said.

“Whatever those findings are, this game has to reorganise itself to make sure some credibility and confidence comes back into the game.”

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