Supporters flocked to St James' Park throughout the afternoon following reports that Keegan's second spell in charge of the Magpies was over after less than a year.

But a statement from Newcastle released shortly before 7pm included a denial that the board had dispensed with Keegan's services.

Fans demonstrated against owner Mike Ashley, the man who handed Keegan his shock return to football in January, and pledged their support to the coach, whose long-term future had previously been called into doubt when he questioned the club's ability to break the established top four at the end of last term.

The former England boss, who was treated to a hero's return by fans when he was named as Sam Allardyce's successor, has yet to add his voice to the confusion at Newcastle, though, and as such an element of mystery looked set to linger overnight.

It remained unclear whether Keegan may have walked out, although Newcastle, with their statement, stressed he remained integral to their plans.

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

"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."

No mention was made of reports that the 57-year-old coach had resigned his post.

Keegan is understood to have made his feelings plain over the club's summer transfer activity at a meeting yesterday, and was again summoned by the hierarchy this morning as rumours of his exit started to surface.

The role of former Leeds manager Dennis Wise, who occupies the position of executive director of football at the club, is another subject likely to have been under discussion at the meetings.

Keegan has been unhappy with the club's relative lack of signings in recent weeks, but voiced his belief on Friday after James Milner's £12million departure for Aston Villa that he would have three or four more players at his disposal by midnight last night.

In the event, only striker Xisco and loan signing Ignacio Gonzalez arrived on Tyneside, while troubled midfielder Joey Barton was the subject of an unsuccessful approach from another top-flight club.