Newcastle United great Kevin Keegan has hailed the takeover of the club.

After quitting as manager in 2008, the adopted Geordie vowed never to return to St James' Park while Mike Ashley remained.

But having spoken to Toon's new Saudi Arabia-funded consortium since the £300million takeover, King Kev is eager to hear what is on the table.

An ambassadorial role has been mooted and he told The Mag: “I would ask them what role they think I can do.

“I'm past the days of running about coaching players and it's not my style to sit in a lounge having drinks with corporate guests.

“So I would want them to tell me how they see me fitting into things."

Speaking for the first time since the takeover at a Q&A in Cramlington, the Newcastle icon believes the club will now compete with the very best.

He  said:  “Like  everybody else, I was absolutely delighted when Mike Ashley left.

“Anybody coming in was going to be a plus. I think we have hit the jackpot, I really do.

“One, they have got the money — but don't let that worry you because that's how all the other teams like Chelsea and Manchester City have done it.

“If you look at the top four or five and not just in this country, look at Spain with Barcelona, Real Madrid and Atletico.

“Why? Because they get the most money, the most sponsorship and they are on TV most.

“It's the same in Italy and France. Who wins the league? Newcastle are now in that league.

“If you put the right players in you win the league. There's another team in that Super League bracket now."