The meeting was called in the wake of the 57-year-old's claim his side will not be able to compete with the Premier League's top four for years, even with significant investment.

Just how that message and the underlying issues it presents were received by Ashley is a matter for conjecture, but there is little doubt that the air needs to be cleared.

However Keegan, who was in typically upbeat mood as he prepared his side for Sunday's final-day trip to Everton, remained unrepentant about his comments made following Monday's 2-0 home defeat by Chelsea.

He said: 'I wasn't asked about the top four, I was asked "how do you think you fared today against Chelsea"?, and "how far away were we from that"?

'That was the question I was asked and I said "a million miles". You can go round and get thousands of opinions from the fans, who I think are always a good barometer.

'You can go to the fans, not just of Newcastle United, but of most other clubs and say "can your club get into the top four next year"? They would probably say "we would like to think so, but if we are honest, that top four has been the same for a long time".

'I have seen what other people have come out and said, like [Premier League chief executive] Mr [Richard] Scudamore, to defend or try to put a different slant on it, and I fully understand that.

'But what I expressed was my view, and I stick by it. The majority of people you talk to who have a knowledge of the game, they realise by looking back over the last six years that that top four has been the same.'

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