Spend spend spend

Keegan began his first day at work yesterday and is expected to immediately scour the Premier League for fresh recruits to his Tyneside revolution. Bridge has been a peripheral figure at Stamford Bridge this season and Keegan has already made an enquiry for the England player.

If he lands Bridge, who would relish the chance of a move to the North-east, it could start a procession of players to St James’ Park as Keegan has been told by billionaire owner Mike Ashley that he will have money to burn.

Keegan spent £80million during his last five-year stint as Newcastle boss from 1992-97, including the purchase of Alan Shearer for a then world-record fee of £15m in July, 1996.

It shows Keegan is not afraid to spent big in the transfer market, and even though the January window has only two weeks left to run, he will want to strengthen Newcastle immediately to avoid sliding further down the Premier League.

Keegan was asked in front of Stoke City manager Tony Pulis at Wednesday’s FA Cup third-round replay how much money he had to spend and said: “A bottomless pit.”

Ashley has certainly not tried to hide the fact he is prepared to bankroll the Magpies in much the same way that Roman Abramovich transformed Chelsea into a Premier League powerhouse by spending tens of millions of pounds on new players.

Ashley – dubbed the Buckinghamshire Abramovich – has certainly got the financial clout to hand Keegan a blank cheque, and the new Magpies’ manager will certainly spend it.

Before agreeing a three-and-a-half-year contract at St James’ Park, Keegan would have asked for certain financial assurances and it is clear he got the right answers from Ashley.

Keegan is expected to finalise his backroom team in the next 24 hours and has been urged by Newcastle assistant coach Terry McDermott to hand Alan Shearer a role within the club.