Newcastle chairman Freddy Shepherd has denied reports Glenn Roeder is on the brink of being appointed the club's manager on a permanent basis.
It was claimed today in the north-east media that Roeder, 50, would be rewarded for his impressive record as caretaker boss with the full-time job.
Several bookmakers stopped taking bets after punters backed Roeder even when he was odds-on following the reports.
But Shepherd stressed no decision has yet been taken.
He told the club's website: 'I am aware of reports circulating today but the club will not be making any comment on them.
'We haven't ruled anyone in, or out, as far as things go.
'When we have something to say on the matter we will make an official announcement.'
Roeder has steered Newcastle away from relegation danger so successfully they are currently battling for a UEFA Cup place.
Roeder was appointed to his current role following the departure of Graeme Souness on February 2. He was already at the club, working in a coaching capacity as head of the youth academy.
Newcastle were coming off a 3-0 Premiership defeat at Manchester City, which left them 15th in the Premiership table and just six points clear of third-bottom Birmingham.
The Magpies won four of their next five league matches, drawing the other, before three successive Premiership setbacks undid much of that positive work.
However Newcastle recovered from that run of defeats and are presently on a five-match winning run which has allowed them to climb to seventh place, level on points with sixth-placed Blackburn albeit after playing one extra game.
Roeder lacks the UEFA Pro Licence which he would require to be a full-time Premiership manager, but he is closing in on the qualification and may acquire it this summer.