Confusion surrounds the future of Kevin Keegan after Newcastle United issued a statement tonight denying that they had sacked him as manager.

Earlier in the day angry fans had gathered outside St James' Park to protest against his departure after widespread speculation that Newcastle had dismissed him.

The club, however, finally issued the following statement this evening:

"Newcastle United can confirm that meetings between members of the board and manager Kevin Keegan were held both yesterday and today.

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• What now for Newcastle?

"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."

It was originally thought that the Geordie favourite had been shown the door after showdown talks with club owner Mike Ashley. But with Newcastle denying this to be the case, it is unclear whether Keegan has in fact resigned or whether he is considering his position.

Speculation mounted all morning that Keegan’s second reign as manager was drawing to a close after his main transfer targets failed to materialise when the transfer window closed at midnight.

Fans chanting "sack the board" arrived at the ground to show their support for the man they hailed as their "Messiah" but media were forced by security guards to leave the stadium grounds as the club initially declined to comment on the reports.

There is little doubt that Keegan is unhappy about recent events at Newcastle, relating specifically to the club’s transfer policy and the level of influence he is afforded as manager, which has been reduced since the appointment of Dennis Wise as executive director of football.