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As an Omani consortium eyes Newcastle United, Alan Shearer's future remains opaque. Talks continue between the club and their former striker over whether he will become their long-term manager.

With the newly relegated club up for sale at £100m, interest from wealthy investors in Muscat in a possible takeover at St James' Park swirled around Tyneside. A UK-based investment group is also contemplating an offer, but, for the moment at least, Mike Ashley is still the owner of a club which may yet take some weeks, if not months, to sell and currently lacks a manager.

Shearer, who presided over the last eight games of the season, wants the job, but Ashley has been unwilling to provide the financial backing needed to meet Shearer's requirements on personal terms and transfer budget. "Talks are ongoing and we hope to have something resolved by the end of the week," said the managing director, Derek Llambias.

Should Shearer fail to compromise and the deal fall through, Ashley is likely to turn to Joe ­Kinnear to serve, once again, as ­Newcastle's interim manager until a new owner takes over and identifies a preferred long-term appointment.

Kinnear stepped in when Kevin Keegan walked out last September but fell ill with heart problems which required a triple bypass in February. The former Wimbledon and Nottingham Forest manager is now restored to good health and could be persuaded to return on a temporary basis.

Newcastle fans are, however, likely to respond frostily to a Kinnear comeback and, in the main, desperately hope Shearer will finally be installed and kept in post when new owners eventually move in.

The viability of Shearer's blueprint for rebuilding the club is being assessed by bankers who are expected to provide Ashley and Llambias with their answers on Wednesday.

Last night Shearer denied making specific demands of Ashley. "I met Mike Ashley and Derek Llambias last week and we discussed at length the future of Newcastle United and my desire to be the manager moving forward. I made no demands but there were obvious conditions. We simply proposed an honest evaluation of what was needed to get the club back into the Premiership whilst building solid foundations for the future.

"I fully understand Mike Ashley's decision to sell the club as he feels it's now in the best interest of the club and the fans. I hope to know more by the end of the week."

Nicky Butt has urged Ashley to find a way of keeping Shearer. "Alan is somebody we all respect," the midfielder said. "To have him on board is a big plus for Newcastle United. The experience of having Alan and Iain Dowie [his assistant] in training made every player happy."

(Source: Guardian.co.uk)