FA Premiership: Peter Reid's future as manager of Leeds United hangs in the balance this morning, with the club's chairman Professor John McKenzie considering his options before addressing the London Stock Exchange.

McKenzie met his manager of barely seven months last night after returning from talks with Allan Leighton, the Leeds powerbroker and vice-chairman of the plc board, in London. The discussions, which took place in the public bar of the Cedar Court hotel near Halifax, were said to be amicable.

Neither party was willing to comment publicly as they departed through the hotel's laundry exit, though McKenzie could either issue either a vote of confidence to the stock exchange this morning or confirm Reid's departure.

Paul Hart, the Nottingham Forest manager and a former Leeds centre back, has intimated that he would not be averse to an Elland Road return but terminating the 47-year-old Reid's 12-month rolling contract would cost United around £500,000, about the cost of one place in the Premiership, with plc board members disturbed by Leeds' meek 4-0 surrender at Everton on Sunday.

That was the club's third successive defeat, with 10 goals conceded and none scored, dragging them into the relegation zone.

After Saturday's game with Blackburn, they face daunting games against Manchester United (twice, once in the League Cup), Liverpool and Arsenal, with the board conscious that relegation is likely to propel them into administration given their crippling debts, which stood at £78.9 million in their most recently published figures.

It is that financial legacy - Leeds' share price has plummeted to below three pence since Sunday - which could force McKenzie's hand though the chairman will have been influenced by his talks with supporters groups before meeting Reid. The fans have been quick to call for the manager to be given more time despite the side's worst start to a top-flight season in 22 years.

"It's clear that the problems are not of his own making," said John Boocock, chairman of the Leeds United Supporters' Trust. "It's the players the supporters are angry with."

Meanwhile, Celtic manager Martin O'Neill is ready to reward hero Liam Miller for his prized goal against Lyon with a bumper new contract.

The 22-year-old Irishman came off the bench to score the opener and set up last night's Champions League Group A victory at Parkhead.

O'Neill, who is eager to tie him to a lucrative long-term deal and push more money his way.

"Liam is going to be a great player for this club," enthused the Northern Irishman.

"I am going to make sure that we get him on a new contract as soon as possible - a 35-year deal if I can manage it."

Nearly 24 hours after Newcastle United were compelled to issue a statement to the stock exchange saying that Bobby Robson had not resigned as manager, he appeared with his chairman Freddy Shepherd yesterday to reinforce the message that he was in control at Newcastle, though no time limit was mentioned.

A slump in Newcastle's share price on Tuesday afternoon forced the club to act.

Yesterday was act two, with Robson and Shepherd sitting side by side. It amounted to a vote of confidence from Shepherd but if Robson saw the negative inherent in that he did not show it. "I've never jumped ship in my life," said Robson, who first took a job in management in 1968 with Fulham. "I've never wanted to not fight the good fight, ever, and I've been in football for well over 50 years as a player and manager.

"It's never been in my head, never been in my thoughts. When I heard about it yesterday afternoon I was absolutely flabbergasted, I was astounded. I just laughed. I thought it was outrageous, it was ridiculous. Where did it come from? The spin is tremendous. It goes all over the world in about one minute. It was just an horrendous accusation."

The most obvious reason would be Newcastle's poor start to the domestic season and their qualifying round elimination from the Champions League by Partizan Belgrade.

Newcastle are yet to win in the Premiership this season and are second bottom, one point above Wolves. The team are yet to display the coherence and confidence which lifted them to third last season and, since the start of April, Newcastle have won only two of 13 Premiership matches. One of those was against Sunderland.

There is, moreover, the accusation that Robson, aged 70, has difficulty handling the group of young players at the club.

Kieron Dyer, Craig Bellamy, Carl Cort and Andy Griffin have caused Robson headaches with some of their behaviour off the pitch and adding Lee Bowyer and Jonathan Woodgate to the squad caused consternation in some quarters on Tyneside. There is a young/old divide in the dressing-room but its significance can be over-estimated.

Robson, speaking on Sky Sports, said: "People have just talked about Lee Bowyer and Jonathan Woodgate but they are fine boys.

"Before you sit an exam you do your homework and we did that on the two boys. They have lived up to all our expectations.

"They have been fantastic pros, they have never given us an ounce of trouble. Yes, we have a stack of young kids in the club but they're alive and alert and they keep my mind going.

"They are fine. There are no dressing- room divisions at all.

"The morale in the club, the team spirit, is at a very high level and we have no problems. You could see that in our performance

at Arsenal the other night."

Meanwhile, Former Liverpool and Aston Villa striker Stan Collymore would consider a return to football if the right move became available.

A number of clubs have reportedly expressed an interest in signing the striker, who has been involved in media work since quitting the game.