A Toon insider told the News of the World: "Alan's future is just one small spoke in a much bigger financial wheel.
"Everyone knows he wants the job. He is fired up by the desire to take Newcastle back to the Premier League. But, like everyone, he accepts his part in the club's future is dependent on everything being put on a stable footing in the long term.
"He would not accept the job in any other circumstances. This is not about Alan any more. It is about the well-being of a club which finds itself in trouble - and it could get even worse."