But is Keegan content with life at St James's Park?
We understand that talks with Michael Owen's advisers will begin in the next few days and Keegan will hope his skipper, Oba Martins and Steven Taylor will all have agreed new deals by the time he is able to welcome his first new signing to St James's Park. 
Keegan has indicated he expects to land three or four top quality players over the summer, but that number is likely to increase if, as expected, the likes of Charles N'Zogbia, Emre and Alan Smith leave the club.
Owen is a quality player and known worldwide, and it is so important Keegan hangs onto a player who can attract the big names.
Alan Shearer was the same ... an ace in the pack. We cannot offer European football to the top stars but keeping the star names is so important to Newcastle's future.