Taylor nears new Magpies deal

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The billionaire businessman stepped in to urge new managing director Derek Llambias, who replaced chairman Chris Mort at the helm last week, to bring an end to the long-running saga over the 22-year-old's future.

Taylor said: "Knowing the owner wants me to stay means a lot to me."

The defender and his representatives have been in talks with the club for more than a year with a series of potential suitors, including Liverpool, Chelsea, Manchester United, West Ham and Tottenham, watching closely.

However, progress has now been made and a successful conclusion is expected within the next couple of weeks.

"Everyone knows I love this club and want to commit my future here, but the deal has to be right for me and the club," Taylor added.

"I am happy there has been some progress and I hope everything is sorted out soon.

"It's all in the hands of my agent, and I can't really say any more."

Taylor, who was born in Greenwich but brought up on Tyneside, has never made any secret of his desire to stay with the club he supported as a boy.

However, his existing deal, which is due to expire at the end of next season, made him one of the lowest earners among the first-team regulars.