Apparently O'Neill still believes he can win over the Football Association and be named as Sven Goran Eriksson's successor in the England role. And how the Irish would love that.
Freddy Shepherd: "There is no need to rush into an appointment and we shall certainly not be doing that. We are considering our options very carefully and will make sure the decision, when it is made, is absolutely the right one for Newcastle United.
"I appreciate that supporters are keen to see the new manager in place and the spotlight is always on us at a time like this, but there will be no unnecessary haste in making what is one of the most important decisions in the history of this football club.
"At the moment, the team is in the very capable hands of Glenn Roeder and the fine victories in the games since he took over underline what a good job he is doing."
Should O'Neill rule himself out of contention then the odds on Bolton boss Sam Allardyce moving to St James' Park will shorten considerably, and some reports suggest Wigan Athletic boss Paul Jewell will be approached after Sunday's Carling Cup final.
It is believed that Jewell has a £500,000 escape clause inserted into his JJB Stadium contract and he laughed off the reports today ... but didn't give Newcastle a concrete "no!".
Jewell: "I'm surprised, but I've a job to do at Wigan. I enjoy my job here. There are all sorts of rumours flying around linking different people, but I tend to take no notice of rumours because that's all they are.
"I spoke to my chairman two days ago, and he is in Barbados, but he never mentioned playing golf with anyone from Newcastle.
"I have said I would like to be the manager of a team that is challenging for the top honours. Yet here I am at Wigan playing for one of the big three trophies in English football.
"Of course, you want to achieve what you can in football and if you said I could achieve what Alex Ferguson has achieved, that would be fantastic."