Former England boss Terry Venables is wanted by troubled Newcastle as a short term managerial fix.
Venables held talks with the Newcastle on Wednesday and is expected to make a decision on the offer on Thursday.
Owner Mike Ashley has put the club up for sale and is looking for a temporary solution whilst he searches for a buyer.
Terry Venables told the Sun:
I can confirm I met Newcastle representatives on Wednesday, those talks will continue Thursday when, hopefully, I can give them a final decision.
Newcastle are desperately in need of an improvement in results. They are on a run of four successive defeats following this weeks defeat to Tottenham in the Carling Cup.
The 2-1 home defeat to Tottenham witnessed a crowd of just 20,577 – the lowest for a competitive match at St James’ Park since the capacity was increased to 52,387.