Coach Bert van Marwijk is understood to have already drawn up a blueprint for the rebuilding of his squad, and that Emerton, Pierre van Hooijdonk and Bonaventure Kalou could be used to raise the cash to fund his plans.

Sir Bobby Robson has maintained an interest in the 24-year-old Australian international for some time, and the Magpies had a £7million bid rejected by Feyenoord in August.

Emerton, who impressed against United at right-back in his side’s 1-0 Champions League win at St James’ Park on September 24, can also play in midfield, although that is perhaps where Robson enjoys his greatest strength in depth after adding Darren Ambrose and Lee Bowyer to his squad in recent months.

But the player has admitted how flattered he has been by Newcastle’s continuing interest, and could not have failed to be impressed by their stunning performance at the De Kuip Stadium on November 13 when Craig Bellamy’s late, late strike clinched their place in the last 16 of Europe’s biggest club competition.

United chairman Freddy Shepherd was initially quoted £8million for the former Sydney Olympic player, but with his contract due to run out at the end of next season, Feyenoord will be reluctant to let things ride and risk losing him for nothing next summer.

They believe around £4million may be enough, and that would represent a second piece of solid business after Bowyer’s capture on a free transfer.