Ossie Ardiles admits he would love the chance to manage Newcastle again, but concedes there is little chance of him re-taking the helm at St James' Park.
It was widely anticipated that Alan Shearer would return as Magpies manager to help guide the club back into the Barclays Premier League following their relegation last season. But the protracted sale of the club has made any concrete managerial decision impossible and Chris Hughton has remained in temporary charge.
Ardiles had an unsuccessful period as the club's manager between 1991 and 1992 but, when asked if he would be interested in managing Newcastle again, he said: "If that was to happen then I would be delighted, of course, but I don't think it will. I think whoever comes in will be looking for some other people, probably Alan Shearer because he is loved up there."
The Argentinian spent 12 months at Newcastle before being replaced by Kevin Keegan after the club slipped towards the bottom of the old second division.
The club began their most recent spell in the second tier of English football with a creditable 1-1 draw at West Brom on Saturday.
Ardiles warned, however, that the ownership of the club must be sorted out soon or else they could risk falling into further turmoil.
"The chairman is trying to sell the club and the squad was pretty slim last season and it's even more slim now so they are in big danger," he said.
"They need to sort out the political situation at the club. A chairman needs to come in and say this person is the Newcastle manager and take it from there.
"Mike Ashley needs to be decisive because at the moment the club is not stable and stability is the main thing that Newcastle needs right now."
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