Leeds United boss Dennis Wise is being linked with the Newcastle football director's job.
But Leeds chairman Ken Bates is unlikely to let his manager and close friend go quietly, with his club looking good for promotion from League One despite starting the season with a 15-point deduction for breaking insolvency rules.
A well-placed source claims Wise is the man Mike Ashley wants, ahead of more experienced coaches like Gerard Houllier, who would appear to be a more natural choice for such a role.
The job would give Wise huge responsibility at one of the country's top clubs and would provide Ashley with a capable caretaker, or replacement, if Keegan were to make a sudden departure.