Souness keen on Newcastle return

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On Saturday Harry Redknapp turned down the role following Sam Allardyce's exit - and Newcastle have been told by Portsmouth they will be wasting their time making any more bids for the 60-year-old.

Asked on Sky Sports 1 if he would be interested in going back, Souness said: "With [there now being] a different chairman, most certainly."

When pressed on whether he would take the job if it was offered to him, he added: "In a heartbeat. It is a big club, one of the big clubs out there. It has got the potential to be one of the best. But it's not a quick fix, and whoever goes in there is going to need certainly a minimum of three or four years."

Newcastle spent vast sums on transfers during Souness' tenure - including the signing of Michael Owen from Real Madrid - but the Scot refuted the suggestion he was fully backed by then-chairman Shepherd.

"I would argue that point because at the end of the day my first choice was (Nicolas) Anelka and (Luis) Boa Morte. I was told, when I spoke to the people in Turkey, when Anelka was for sale at that time, that he could be bought. But I was told he wasn't for sale and couldn't be bought.

"So instead of us spending the £12million there, we bought Albert Luque for £10million and Michael Owen for £16million."

Asked whether those were his decisions, Souness said: "No. I was told Albert Luque would cost £2million."

Redknapp decided to stay at Fratton Park, where chief executive Peter Storrie says he has "a job for life".

Speaking on Radio Five Live's Sportsweek programme, Storrie said: "Harry has made it perfectly clear he has made his decision - he wants to stay at Portsmouth. That is the end of the matter. He has made it plain it is not about money so Newcastle can continue to offer him what they like."